Estate planning addresses many issues, from who inherits your property or handles your finances to who takes care of you if you’re incapacitated to who manages funds for a disabled child. Unfortunately, there are many myths around estate planning, as explained in the article “Debunking the Top 10 estate planning myths” from Insurance News Net. Only wealthy people … Continue reading Top 10 Estate Planning Myths
Category: Estate Planning
Protecting Inheritances in a Blended Family
Blended families have estate planning challenges differing from traditional families, explains a recent article from The Record Courier, “Estate Planning for Blended Families.” A blended family is one where one or both partners have children from a prior marriage. The details vary, but the concern is the same: the possibility for the children to be disinherited if after … Continue reading Protecting Inheritances in a Blended Family
When Should I Begin Estate Planning for the Farm?
Successful Farming’s article entitled “Is 50 Too Early For Estate Planning?” gives us some guidelines, so you can address the what-ifs as changes occur and eventually finalize everything. Below are some key guidelines: Define parameters. Regardless of what age you implement your plan, it needs definition. Outline the basics like how the rent will be calculated, how … Continue reading When Should I Begin Estate Planning for the Farm?
Do I Need these Types of Insurance?
Some kinds of insurance policies don’t make sense as you get older. AARP’s recent article entitled “10 Types of Insurance You Don’t Need” lists some insurance products that may not make sense for seniors. Life insurance after you retire. This is designed to protect your family from losing income if something happens to you. The need for it depends on … Continue reading Do I Need these Types of Insurance?
What You Need to Know When Making Your Will
Contemplating your own mortality is not on anyone’s list of fun pastimes. However, having an estate plan is a gift to family members and is important whether you are wealthy or not, says a recent article from CNBC, “5 key things to know when you create a will and make other end-of-life plans.” Don’t be intimidated by the … Continue reading What You Need to Know When Making Your Will
What Things are Often Overlooked in Estate Plans?
When creating an estate plan, there are details that seem minor but are actually very important, says a recent article from Mondaq, “Four Provisions People Often Forget To Include In Their Estate Plan.” Don’t forget to name alternative beneficiaries and executors If the will name a beneficiary but they are unable to take possession of the property, … Continue reading What Things are Often Overlooked in Estate Plans?
What Is Probate?
Unless they’ve experienced it themselves, most people don’t know what happens after the funeral is over and the mourners return to their lives. A recent article from San Francisco Bay Times, “Probate in a Nutshell,” explains how the probate process works. Probate is the legal process of administering the estate of a deceased person. It includes transferring assets … Continue reading What Is Probate?
Think Twice About DIY Estate Planning
The proliferation of home improvement shows combined with the ability to search for practically anything on the Internet has led to a boom in do-it-yourself (DIY) projects. People are doing everything from repairing their home appliances to writing complex legal agreements. The advent of artificial intelligence programs like ChatGPT is bolstering this movement, with people … Continue reading Think Twice About DIY Estate Planning
Life Events that Call for Estate Plan Updates
Making an estate plan is a great way to prepare for leaving your property to your loved ones. Whether you set up a trust or prepare a will, estate planning gives you and your family the peace of mind that they will be taken care of in the event of your death. Nevertheless, things happen throughout your … Continue reading Life Events that Call for Estate Plan Updates
Naming a Guardian for Your Children
No one wants to think about worst-case scenarios. These are the catastrophic events that can cause great problems in one’s life. When you are a parent, one of the worst things that can happen is that you die and someone else has to raise your child. If you are like most people, you probably don’t … Continue reading Naming a Guardian for Your Children