Estate Planning

Delaware’s Trust Act 2024, which was recently signed into law, includes a unique and first-of-its-kind provision that lets people set up a “beneficiary well-being trust.” These trusts require the trustee to arrange for beneficiary well-being and education programs...

Asking a loved one to serve as your executor requires preparation. It's vital to approach the topic from the right angle and be equipped with satisfactory answers to questions they may ask.  So, how should you hold the conversation? Explain your choice When you inform...

A major step in the estate planning process is making regular updates during your life. Making changes to your estate plan can help to ensure the intent of your plan is kept aligned with your wishes. In other words, you can help ensure new assets are added to your...

Estate planning isn't just about drafting wills and trusts; it's also about ensuring your loved ones understand what you want to happen after you pass away. While creating an estate plan is a good first step, discussing your plans with your family is also important....

While core estate planning focuses on asset preservation and managing inheritances, your plan can do much more. Trusts, in particular, can help you build an entirely customized plan around your specific circumstances. The following sections discuss three types of...

An executor is someone who is tasked with ensuring that the instructions in your estate plan are carried out as intended . The processes they will observe during probate can be overwhelming. But you can make their work easier. Here are four tips for helping your...

Creating an estate plan is an excellent first step. However, it isn’t something you can do one time and forget about it. Your life will go through multiple phases that may bring significant changes. Here are some that may require you to revise your estate plan: 1....

If you are creating an estate plan, you should be realistic about family dynamics and needs. It is not uncommon for Delaware parents to split an inheritance unequally among their children, but the best time for their children to find out about this should not be once...

Delaware does not levy an inheritance or estate tax. It also has the sixth lowest property tax in the entire nation. The state also declines to enforce a gift tax. However, the federal gift tax is still applied at the federal level. It takes effect if you received a...

Delaware residents name an executor in their last will and testaments so that the executor will carry out their final wishes. Sometimes, the executor may pass away, causing complications. In this event, a successor executor named in the will takes over the estate. The...