Divorce is an emotional and financial rollercoaster (particularly if children are involved). Rarely is the division of assets an amicable process. While your estate plan may be the furthest thing from your mind during a divorce, without updating your documents, your…
It might seem confusing to think about estate planning vs. elder law as you begin to plan your future, both financially and in terms of health care. Estate planning and elder law also have some similarities. Even though these two types…
America is on the brink of the largest wealth transfer in history as baby boomers prepare to pass on their legacies through estate planning. Over the next 25 years, projections estimate 68.4 trillion dollars will be in motion to create an unprecedented transfer…
As part of your estate planning process, you should implement Power of Attorney documents. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to…
Even incapacitation from an accident or sudden illness at any age can create the same challenges as banking and bill-paying with age. Incapacity is not just about mental cognition, accident, or illness. You may have a loved one who cannot drive…
You may be wondering who should be responsible for dispersing your assets as you begin your estate planning process or are just starting to consider how to proceed. A trust can be a great tool in your estate planning tool kit.…
In contrast to a last will and testament, a living will does not transfer assets after death. Instead, it is a mechanism to communicate to your family and doctors how you want medical care conducted when you aren't able. Your living…
Over the past thirty years, family structures have changed significantly. Previously, a traditional family consisted of a husband and wife who married young, bought a home, had children, and worked towards financial stability. In 1949, 79.8 percent of American households…
COVID-19 has raised awareness in the US about the importance of having a will, a living will, and possibly a living trust. Still, this knowledge is not translating into estate planning action. No matter your age or asset level, having…
In a will, you identify who will receive your assets and properties, addressing who will inherit them after your death. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution, your executor makes…