Estate Planning Articles And Tips
One sad truth about estate planning is that a lot of people are still unsure of what it calls for and blindly allow common estate planning myths to influence their decisions.
As an experienced trust and estate lawyer, you must understand that if you fall victim to these untruths, you will leave your family mixed up once you are gone.
Let’s face it, estate planning is not a subject that many people want to think about or talk about. I get it, that was me, too.
Put giving into your estate plan. Ask yourself this question: “How much is enough?”
You don’t need to be a multimillionaire to make an impact.
For many people, gifts to charity are an important aspect of their lives. Therefore, it is only natural that you find ways to incorporate charitable giving into your estate plan.
Let’s look at 5 ways to incorporate charitable giving into your estate plan.
If you’re part of a blended family, you might be wondering, do step-children inherit anything from their step-parents?
The rising divorce rates have caused a substantial increase in the number of step-children in blended families.
Therefore, it’s important to understand how the law may affect your step-children and inheritance distribution if there is no proper will or estate plan in place.
Birth or adoption of a child, marriage, death of a loved one, relocating to a new state, or major health changes are among the five most common estate planning life events.
In other word, this means if they occur, review your plan.
These five significant life events will almost always require an amendment to your end-of-life documents.
Estate planning with your pet in mind may not be the first thing n your thoughts when thinking about end-of-life plans, but nonetheless, it’s an important consideration for those of us that have furry family members.
Unfortunately, not all animals, despite their essential role in their owner’s life, are given the chance to live after their owner’s passing.
In fact, one’s death or disability could lead to a pet’s euthanasia.
One of the most delicate aspects of dealing with a person’s will is determining if there is undue influence on the elderly when it comes to their trust, will, or Special Power of Attorney (SPA).
Undue influence occurs when someone exerts pressure on the testator, the person making a will, SPA, or trust, to the point that the contents of the will do not serve the best interests of the testator but of the person who is exerting undue influence.
A lot of people have the misconception that only seniors at the end of their lives or people with serious illnesses should prepare for the inevitable: death.
In truth, everyone who has children and/ or real estate property, businesses, and other kinds of assets should take the initiative to do estate planning the soonest time possible.
This is why the idea of estate planning for a single parent isn’t as crazy a one...
One cannot overemphasize the importance of healthcare directives in ensuring that a person receives proper healthcare in the event of sudden incapacity due to an accident or adverse mental or medical condition.
By having these vital legal documents, the person, his or her family, and the medical attendants will know exactly how the person should be cared for if the worst case happens.
If you’re currently considering family financial and estate planning, including planning for incapacity, to help protect your family’s financial stability, you’re definitely on the right track.
Among the critical aspects of any financial planning exercise is laying down the foundation for a family’s financial security in case the breadwinner suddenly suffers from a debilitating illness or injury.
If you’re currently thinking about blended family financial planning, we have a few tips you should consider. Unlike the typical financial planning procedure, planning for your blended family’s financial future entails unique challenges that you have to hurdle for it to become a success.
Here are 8 essential tips from an estate lawyer that you must remember when planning for your blended family’s finances and future.
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