
Should I Do Estate Planning Now?
Not having an estate plan can create problems for the people you love the most.
Not having an estate plan can create problems for the people you love the most.
One reason for having a will is to make sure your wishes are carried out. If you die “intestate” (without a will), your assets will be distributed by state law, not by your desires.
An online form or a DIY will kit may be a more cost-effective option. However, hiring a lawyer could save you money in the future.
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one’s affairs.
While no one wants to think about his or her own death, planning for the inevitable is an important part of protecting your assets and those you love.
While we are alive, we can clearly make our own decisions. Unfortunately, one day you may find yourself in a situation where you cannot make your own decisions. Such situations occur most often in accidents, illnesses (physical or mental) and simple aging situations.
My wife died and left a bank account with no beneficiary. The bank tells me I have to go through probate. I inherited everything else. What do I have to do?
For many families with elderly people or engaged in estate planning, power of attorney is essential, especially if the elderly person’s mental abilities are compromised. Having someone who can take care of legal and financial matters can make this part of life far easier. However, power of attorney is a sweeping grant of authority.
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure that your estate planning is up to date.
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.
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