October, 2014

What is Estate Planning? | The First National Bank Blog

October 21st, 2014
What is Estate Planning? | The First National Bank Blog image

The first thing you need to know is that practically everyone has an estate, not just wealthy people with mansions and manicured lawns. IRAs, 401(k) plans, houses, cars, investments, life insurance policies, bank accounts—even baseball card collections—are part of your estate no matter how modest these assets may be. Another important thing to remember is that your estate plan may include both a will and a trust. A will goes into effect after you die, but a trust goes into effect as soon as it’s created and allows your assets to be distributed before or after death.  The Three Ws [ read more ]

Where There’s a Will | The First National Bank Blog

October 7th, 2014
Where There’s a Will | The First National Bank Blog image

Nobody likes to think about making a will, but not drawing one up can lead to probate, additional taxes and unnecessary stress for the people you care about. Where to start? While there’s no ideal age for making your will, there is a minimum age—18. And a will doesn’t have to be written by an attorney or by using will-writing software. It can be a simple, typewritten document detailing how you want your assets distributed among your heirs, favorite charities and/or companions. However, if you’re naming legal guardians for your minor children or if your estate is substantial, consulting an [ read more ]