After losing a family member, people experience pain and grief. The situation gets worse if legal issues are involved, resulting in family conflicts. Such challenges are typically the result of a lack of planning when they could have been much easier if a good plan had been in place, says Scubby’s article entitled “7 Ways To Ease Your … Continue reading How Can I Relieve My Family’s Stress When I Die?
Category: Estate Planning
What Is Probate Court?
Probate court is a part of the court system that oversees the execution of wills, as well as the handling of estates, conservatorships and guardianships. This court also is responsible for the commitment of a person with psychiatric disabilities to institutions designed to help them. Investopedia’s an article entitled “What Is Probate Court?” also explains that the probate … Continue reading What Is Probate Court?
Which Documents are in an Estate Plan?
Understanding how estate planning documents work is central to creating an estate plan for each individual’s unique situation. An estate planning attorney needs to know the details of your life, not because they’re nosy. It is because this is how they can create a plan tailored to protect you during your lifetime, plan for long-term … Continue reading Which Documents are in an Estate Plan?
Does Divorce Have an Impact on Estate Planning?
The short answer is “Yes”. Even the most amicable divorce requires a review and update of your estate plan, as explained in an article from yahoo! finance, “I’m Divorcing. Will That Impact My Estate Planning?” This includes your will, power of attorney and other documents. Not getting this part of divorce right can have long-term repercussions, even after … Continue reading Does Divorce Have an Impact on Estate Planning?
Do I Need a Will If I’m Leaving Insurance Policy to a Beneficiary?
If you aren’t thorough with your estate planning, you could create conflict, even with the best of intentions, says an article from yahoo! Entertainment titled “Life Insurance Beneficiary vs. Will: Do I Need Both?” Your life insurance beneficiary designation supersedes your will, so you’ll need to have your life insurance policy and your will aligned to save heirs … Continue reading Do I Need a Will If I’m Leaving Insurance Policy to a Beneficiary?
Do Family Secrets Hurt Estate Planning?
A study by the financial services research firm reveals just how big a problem family secrets can be, as reported in Financial Advisor’s article “Family Wealth Transfers Undermined by Secrecy.” Most asset holders plan to share their wishes and intentions with family members before they die. However, the research reveals only about half actually do so. The survey … Continue reading Do Family Secrets Hurt Estate Planning?
How Should I Handle Memorabilia in My Estate Planning?
Kiplinger’s article entitled “Estate Planning for Memorabilia Collectors: Don’t Leave Your Family in the Lurch” says the first step is to know what you have. Make a thorough and updated inventory to help your family understand the scale of the collection and where the items are located. Make sure the inventory is current and has detailed information about … Continue reading How Should I Handle Memorabilia in My Estate Planning?
Estate Planning Checklist
Think of estate planning as life planning. Having an estate plan means you and your family have expressed wishes for the future, while you are living if you become incapacitated and when you pass away. According to an article, “Estate Planning: 7 Things To Make Sure You Do” from aol.com, taking these steps while you’re healthy and of sound … Continue reading Estate Planning Checklist
Why Do I Need a Will?
J.P Morgan Wealth Management’s article entitled, “Estate planning: Why everyone should have a will,” explains that your will doesn’t just control who gets your money; it also controls when they get it and who’s in charge of the process. For those with young children, a will is also the only place where you can tell a judge who … Continue reading Why Do I Need a Will?
Think Strategically when Creating an Estate Plan
For those that like puzzles, you can look at estate planning as a giant puzzle, but you have to get all the pieces together for estate planning to work, or you end up with an incomplete puzzle. Mindful estate planning can create tax and investment efficiencies and help ensure that your wishes are fulfilled, says … Continue reading Think Strategically when Creating an Estate Plan