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Blog posts tagged with "estate planning"
Almost everyone knows (or has heard) of the importance of having (at least) a will in place. It is a simple estate planning document, but is extremely important to make sure your wishes are carried out after your passing.
A second marriage later in life can trigger several issues regarding who will receive assets upon one spouse's death. However, additional issues may arise related to a spouse needing long term care (nursing home/assisted living).
As people live longer, remarriage becomes more and more common. People may lose their spouse or divorce while still contemplating a long life ahead for themselves. Statistics show that the largest population of people getting remarried are in the age
Planning your estate is the ideal time to consider your philanthropic goals. Once you establish your goals, you can then work with a planner to determine the most financially savvy and expeditious avenue to accomplish those goals.
Probate is a court procedure that enables your estate assets to transfer to your heirs. When you pass, the "title" to certain assets cannot transfer to your heirs unless your Will is probated.
The Substance Abuse and Mental Health Services Administration tells us that in 2014, 22.5 million Americans aged 12 and older self-reported needing treatment for alcohol or illicit drug use.
In my estate planning and Elder Law practice, I am often asked, "Do I need a trust?" Many people hear about their friends or family that have a trust and they think maybe they need one too.
If your intention is to give someone access to your accounts so that you have someone to help you with your finances in the event you are unable to independently handle your own finances, you can accomplish that goal through a Power of Attorney.
The bottom line for pet estate planning is that four legged friends may be some of your most important possessions while you live, so consider providing for their keep when you are no longer able to care for Fluffy or Fido.