If you want an extra layer of security and peace of mind, you can create a revocable living trust. A trust would have helped Pete’s family avoid probate, protect their privacy, and minimize estate taxes when his father died. A trust is a document that allows you to keep control of your money and property and designate who receives it once you die.If you are “of sound mind and body,” then you can make a will — and it’s a good idea to do that, so you don’t leave your friends and family scrambling and trying t ...

Dealing with the emotional fallout of losing a loved one can be tough. Adding financial worries to that grief only makes things harder. What happens to their debts? What are you entitled to from their accounts or benefits? Knowing your financial rights after a loved one passes can help ease that uncertainty and ensure their affairs are handled correctly. What are your financial rights when a loved one dies? When someone dies, their assets (including money, property, investments, and personal belonging ...