Wills and Trusts – What You Should Know
Wills and trusts are legal instruments that help individuals manage and distribute their assets and properties after their death. While both serve similar purposes, there are key differences between the two. Learn more about how to manage your estate plan, choose an executor or trustee, and the pitfalls of Do It Yourself (DIY) documents.
Should I Serve as an Executor?
An estate executor, also known as a personal representative, is the person appointed in a Will who manages and protects estate assets after the decedent's death. Before agreeing to serve as the executor of a will, understand your responsibilities.
Can I Do a Will for Myself?
Understand the pros and cons of writing a will for yourself and what should be considered when planning for the disposition of your assets.
Postmortem Planning
An overview of what estate planning decisions can be made postmortem and pre-mortem, including taxes, decanting, and portability considerations.
Pitfalls of Do-It-Yourself Estate Planning
Still need to create a will and estate plan? ACTEC Fellows discuss what consumers need to be wary of when using an online form or DIY service.
How to Choose an Estate Planning Attorney
Finding and choosing an estate planning attorney can be intimidating. This video offers tips for finding and interviewing lawyers. Learn where you can go online to find qualified estate planning attorneys.
What to Expect After Hiring an Attorney
What is an engagement letter? What do consumers need to understand when hiring an attorney to represent them as an individual, a couple, or a family? Legal experts explain what you need to know when working with an attorney.
Managing Guns in Your Estate
Estate planning experts explain the complexity of transferring firearms and guns in your will and offer tips regarding what to consider when bequeathing weapons.
Common IRA Beneficiary Scenarios
There are no do-overs with IRA beneficiaries! Understand the typical IRA beneficiary scenarios and why it’s critical to review every time you set up an IRA.
Understanding Cryptocurrency in Estate Planning
Understand how to manage cryptocurrency in your estate and plan for the succession of your digital assets from estate planning experts.
Inheritance and Estate Settlement
How long will it take to receive my money after a loved one dies? Experts in estate planning answer common questions regarding when beneficiaries of a will or trust will receive their inheritance and explain the estate settlement process.
Motivating Heirs with an Incentive Trust
An incentive trust is an estate planning tool that includes benchmarks that trigger the trustee making greater or fewer trust distributions when a particular conduct or behavior is taken by the beneficiary. ACTEC discusses how an incentive trust works, examples of incentives, and what to keep in mind when creating a family incentive trust.
Direct Payment of Medical Expenses and Tuition as an Exception to the Gift Tax
Paying for someone else’s tuition or medical bill is an exception to the gift tax if you do it correctly. Learn what is considered a “gift” by the IRS, the do’s and don’ts of paying another person’s education or medical bills, what qualifies as tuition and medical expenses, and practical examples.
Estate Tax Returns
Estate Planning experts give a step-by-step overview of the estate tax preparation and filing process. What clients should know about the return, extension, exemption, and IRS response.
Gift Tax, the Annual Exclusion and Estate Planning
Understand when gift tax comes into play, how the age of the recipient impacts gift tax, efficient ways to transfer property, split gifts, the annual exclusion and more from estate planning experts.
Estate Planning in the 2020 Election
Year How might the election affect estate planning, taxes and charitable giving? Learn what steps taxpayers may want to consider in light of the 2020 election, and how to plan for future legislation, changes in the estate gift tax exemption and charitable giving.
Estate Planning Strategies for Retiring Abroad
Retiring abroad? Learn what estate planning information to keep in mind when moving overseas, such as if your will or trust will be valid in another country, guardianship considerations when moving with minor children, and special tax considerations and laws.
Estate Planning Considerations for Small Business Owners
Small business owners need to plan for the transition of their company in their estate plan. Learn about the impact of state laws, multiple beneficiaries, keeping a business in trust, and how to plan for estate taxes in this short video.
Can I Change My Irrevocable Trust?
Learn what changing an irrevocable trust entails, what it means to decant a trust, what courts can do and other pitfalls. ACTEC Fellows explain what individuals need to know when considering modifying an irrevocable trust.
Transferring Assets to a Minor Child
Find out more about how to transfer assets to minor children, the Uniform Transfers to Minors Act (UTMA), 529 plans, naming a caregiver for a minor child in a will and more from Fellows of The American College of Trust and Estate Counsel, ACTEC.
Coordinating Beneficiary Designations with the Overall Estate Plan
Assets such as life insurance, annuities, pension plans, 401ks and IRSs have beneficiary designation fields as part of the set-up form. ACTEC Fellows explain what you need to know about coordinating beneficiary designations with your overall estate plan.
Digital Asset Management in Life and Death
Understand how to plan and manage your digital assets, such as photos, email accounts and passwords, during life and in your will and estate documents.
5 Reasons to Update your Estate Plan
Understand when to update a will or trust, such as after a move or divorce, when your children grow up or if you have a business.
What to Consider When Setting Up Trusts for Children
What's the best way to leave assets to minor children? Should children receive equal assets? What's a Pot Trust? What should be considered if my child is married? These and other questions are answered by trusted estate planning advisors.
How to Choose your Executor or Trustee
Selecting an executor or trustee to oversee your will or trust requires careful consideration. Learn about the duties of an executor or trustee, traits to look for when selecting an individual(s) executor or trustee and when to consider a corporate trustee.
Divorce and Estate Planning
Going through a divorce can be emotionally and financially stressful. Knowledge is power. Understand what estate planning documents are impacted by a divorce from lawyers with expertise in estate planning.
What is a Will and Why Do I Need One?
Experts in estate planning answer questions that families often have when preparing a will such as:
- How a will helps with the transfer of assets after death;
- What a will does not do;
- How do you create a will; and
- Can you create a will online as an e-will or electronic will?
What is a Revocable Trust and do I Need One?
"What is a Revocable Trust and Do I Need One?” is a common question among families beginning estate planning. Professor Mary F. Radford frequently gives presentations on estate planning and guardianship and shares her insights with families in this video.