Estate Planning is essential for many reasons, which are set forth in prior articles. Links to these articles are set forth at the end of this article. This series will focus on how an Estate Plan could be challenged. This series will show the importance of doing Estate Planning in the right way. This article will focus on the formalities of an Estate Plan.
Different documents in an Estate Plan have different requirements and those requirements vary from state to state. Typically, for any document, the person must have legal capacity, such as being 18 years of age. However, in most states, an emancipated minor would have legal capacity to make a Will or enter a contract despite being under age 18.
Read more: https://www.aaepa.com/2019/11/reasons-an-estate-plan-could-be-challenged-part-1-formal-requirements/
- Tax Reporting with Trusts - August 31, 2021
- Advantages of Using a “Grantor Trust” in Planning - August 27, 2021
- Taxation of Nongrantor Trusts - August 1, 2021