Almost everyone has heard of trusts, sometimes in reference to someone being a beneficiary. Despite the common misconception that trusts are only for the wealthy, they are a useful tool for estate planning of all sizes.

As our society becomes more reliant on digital technologies, the world of estate planning faces new challenges. Many people today, whether they realize it or not, own substantial digital assets. Names, blogs, bitcoin, and non-fungible tokens (NFTs) are examples of digital assets that must be considered when creating an estate plan. If the proper authorizations are not in place, passwords, data encryption, criminal laws on "exceeding authorized access," and data privacy laws may prevent a decedent's family members from accessing their loved one's digital assets. It is more important than ever to have an up-to-date estate plan that complies with the law, expresses your intentions regarding all of your property, digital or not, and reduces emotional and financial burdens on loved ones after death. Digital property should not be overlooked.

When considering whether to contest a decedent's Last Will and Testament, an individual should consider whether red flags might be present, which may point to a successful basis to challenge a disputed Will. These red flags tend to be the most frequently encountered issues concerning improperly drafted and/or executed Last Wills and Testaments.

Beneficiary designations determine who will receive your assets from retirement plans, life insurance policies and, potentially, bank and brokerage accounts, when you die.

When it comes to a will or estate plan, don't just sign it and forget about it. There are some obvious triggers that might prompt you to update your will, such as changes in health or marital status.

It's all too easy to lose track of this important document as the years go by. If a loved one passed away but you can't find their Will, you could run into serious issues during the probate process.