Cheryl David

The sooner you plan, the more prepared you'll be for life's unexpected twists and turns. You can start now, regardless of your net worth. You might say: “but I’m still paying off student and credit card loans!” Have no fear, your net worth is not the deciding factor in getting your estate organized. One thing to ask yourself is how prepared would your loved ones and family be if …  read more

Trusts for minors are usually set up by parents or relatives who want to leave property to a young person. Thus, naming a trusted adult to care for the property until the child is old enough to be financially responsible. You can specify any age for your child to receive the proceeds, but generally the designated ages are 18, 21, or 25. A minor's trust is often created through a …  read more

Here are big mistakes you want to avoid when you set aside wealth for future heirs: Procrastinating —Always arrange your estate plan as early as possible, and keep it updated. State law may intervene and create a plan of its own if you don’t complete yours in time. Having a do-it-yourself mentality — Although taking charge of your own plan can seem like a good idea — after all, …  read more

Yes, it does happen that someone challenges a will in probate court, testing the will's validity. The usual grounds? That the deceased didn't have the capacity to make the will or was unduly influenced — mystery writers love to leverage this plot point. However, probate courts assume that a signed and witnessed will is valid, so it's going to be an uphill battle.   If you …  read more