Important Things to Know About Living Wills
Would you still be able to make decisions about your healthcare if you became seriously ill or injured? You don’t have to be old to become incapacitated. A living will, a component of an advance health care directive can outline your wishes so that your loved ones can make informed
Preventing Siblings From Fighting Over Their Estates
Sibling rivalry. There is no getting around it in most families. With the passing of a parent, old rivalries can become more pronounced depending on how your family members interact. Adult children who are emotionally upset and in the unfamiliar territory of an inheritance process can invent new problems or magnify
Planning Your Estate with Your Spouse or Partner
The process of estate planning requires thoughtful consideration and a discussion with your spouse. In order to present your ideas to an estate planning lawyer, it is best to discuss them beforehand. Conversations about your future and what you will leave behind can be challenging if you and your loved
The 4 Main Obstacles to Digital Estate Planning
In an age when our lives are intertwined with the Internet of Things (IoT), identifying and managing the digital properties we own is more important than ever. We've moved beyond emailing family and using social media to connect with friends to using smart home devices and online investments. Today, understanding which
Keeping an Eye out for Elder Financial Abuse and Fraud
As reported by the National Council on Aging (NCOA), US elder financial abuse and fraud losses range from 2.6 to 36.5 billion dollars each year. Financial exploitation reported by elders is more common than all other forms of elder abuse, however, NCOA believes instances of elder financial fraud and abuse
Different Trust Types
Most of us are familiar with trusts, either as a reference to a beneficiary of a trust fund or as an entity itself. While some may think only wealthy people have trusts, trusts are common and useful tools for estate planning of all sizes. Assets are managed and protected, distributions
Planning Your Estate with Life Insurance
Your surviving loved ones shouldn't be forced to inherit assets only to find they can't access them to meet their financial obligations after you pass away. Homeownership and retirement accounts make up most retirees' assets, so you need to sell them in order to get cash. In order to manage
Families With Blended Assets and Wills
Especially in American families today, stepchildren are not uncommon, and they are taken care of just like full biological children, even if they come from the same family. Stepchildren, particularly those raised in blended families, are especially susceptible to this. Siblings may have varied feelings about a stepchild inheriting something
Income From Charitable Trusts for Heirs
Charitable trusts, also known as irrevocable trusts, allow you and a charity to receive income from the trust. The establishment of a charitable trust can offer many benefits for all parties involved, especially for those with nonessential assets such as stocks or real estate. Even if you experience a financial
How To Understand Powers of Attorney
As part of your estate planning process, it's important to implement Power of Attorney (POA) documents. Powers of attorney are recognized in all states, but the rules and requirements may differ from one to another. By signing this document, you are granted an individual or individuals the authority to act