Andrea Gray

Understanding the distinction between a revocable living trust and a will is an important first step in building a comprehensive estate plan.  The Basics of a Will.  A Last Will and Testament is a legal document that directs how your assets will be distributed after your death. Through a will, you can name beneficiaries, appoint an executor to administer your estate, and provide instructions for the payment of debts, taxes, and final expenses. A will is the only document that allows you to formally nominate guardians for minor children. For parents, this makes a will an essential component of any estate plan.  However, a will does

In this article, Andrea M. Gray, Esq., Vice President, Estate Strategies, outlines seven common estate planning mistakes that can weaken an otherwise strong financial plan.

From failing to create a plan at all to overlooking beneficiary designations and incapacity documents, she explains how gaps in estate planning can create unnecessary court involvement, tax inefficiencies, and administrative burdens. This overview offers insight into how estate planning may be considered alongside other components of a holistic wealth strategy.

A letter of last instruction is an often-overlooked piece of an estate plan. To be honest, lawyers rarely provide a template for you. A letter of last instruction is a document completed by you creating a roadmap for your fiduciary (executor or trustee) or trusted loved ones after you have passed away. This roadmap gives a list of what to do after your death and provides essential personal and practical information. While it is not usually an essential piece of an estate plan, it plays a powerful supporting role in handling practical matters and administering your estate.