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?
Category: Will
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?
Things to do at the end of the Year
To end this year, and start the next year with documents, and hopefully finances in shape, you should: Update, or have made, Wills and Living Wills (also called Health Care Directives); if you have gotten married, gotten divorced, had a child, or your child has reached 18, you should have these documents redone or done. … Continue reading Things to do at the end of the Year
Four Things to Do for the Beginning of the Year, from an attorney.
Four Things to do for the beginning of the Year: 1. Update your Will, if you have gotten married, divorced, had anyone in your Will become an adult or pass away; 2. Update your Living Will, also know as your Health Care Surrogate (if you do not update it after you get divorced, do you … Continue reading Four Things to Do for the Beginning of the Year, from an attorney.