When it comes to estate planning, many people consider wills to be vital. And while they do serve a very important purpose during the process, they are not the only factor in creating a solid and suitable estate plan. You must also consider beneficiary designations,...
When dealing with the process of aging, you will sooner or later have to handle the possibility of needing a long-term care facility. Thus, you should work this potential need into your basic estate planning. This can save you trouble later down the line. Red flags to...
Retirement planning and estate planning often go hand-in-hand, and both are processes that you can begin early on in life. As you approach retirement age, though, there are a few key items to address in your estate plan regardless of whether or not you already have a...
Even though you have been healthy throughout your life, it is impossible to predict the future. Eventually, whether because of a serious injury or unexpected illness, you might have to deal with incapacitation. If so, you simply will not be able to make your own...
Regardless of your degree of wealth, you might want to look into an estate plan. After all, these do much more than simply determine where your assets will go after your death. A complex or extensive estate is not necessary in order to have an estate plan, and an...
Your will should always be a work in progress. As your life changes, your will should adapt as well. Most estate planning professionals recommend evaluating and updating your will once a year. This lets you address any changes in a timely manner. There are a few...
If you do not want to burden your close friends and relatives, you are probably thinking about including funeral arrangements in your estate plan. Fortunately, from how the service unfolds to where your remains end up, you can take care of virtually all end-of-life...
An estate plan provides a way for you to think ahead and protect your assets. Maintaining your plan requires ongoing effort throughout your life. Careful preparation can optimize the value and function of your plan. Knowing how to finetune your strategy can help you...
When you die intestate, which means without a will, the state law dictates the distribution of your property. For this reason, it is a good idea for everyone to have an estate plan in place because it lets control remain with you. The Legislative Commission notes that...
As a homeowner, your house should be a critical part of your estate plan. According to AARP, your home is your most valuable financial asset. Determining what happens to it after you pass is not always an easy decision. If you have children, you may consider leaving...
