Estate planning is something that every adult should consider. Often, it is thought of as something only relevant to elderly individuals or those with illnesses, but this is far from the truth. Estate planning documents should be founded upon the true wishes of their...
Creating your estate plan requires you to consider every asset you own. For some people, their financial accounts are a major concern. The good news is that you can easily pass these down to your loved ones. Most financial accounts have a payable-on-death...
One thing that you can do with an estate plan is to set up a power of attorney. This legal document gives you the chance to choose an agent. If something happens that means you are incapacitated – such as having a stroke or suffering a serious brain injury – then this...
You know estate planning can allow you to pass your assets on to your loved ones without incurring undue hardships like excessive taxes. You may not realize it, but other interested parties may go after a share of the property meant for your loved ones. Those with...
Planning for the future has become more critical than ever, especially regarding the health and well-being of our aging parents. Advanced directives are legal documents allowing individuals to outline their medical preferences. This also helps designate a proxy to...
Estate planning is generally an ongoing process. People usually need to add to their estate plans and update their documents throughout their lives. They might remove beneficiaries or add new ones, they might even integrate entirely new documents as they age or their...
Undue influence is sometimes alleged when it seems that one heir has influenced a person’s decisions while making their will or their estate plan. Other heirs may feel that they didn’t get what they deserved and that the estate plan doesn’t reflect the elderly...
A life insurance policy can be an excellent way to leave a notable amount of wealth to your heirs. People often take out the policy when they are very young, as it will be cheaper, but you can buy them at any age. If you pass away, the policy then pays out to your...
Many people create wills to help instruct how their assets are distributed after their passing. While wills are the most basic legal document in an estate plan, it doesn’t always provide what people need. Furthermore, testators may find issues with wills, such as the...
You can only disinherit someone who would’ve expected to be in your estate plan in the first place. You can add other people in – like a coworker or a family friend – but leaving them out isn’t disinheriting them. They never should have assumed they would get anything...