As parents age, their needs and priorities change. Without a clear plan in place, important decisions may be left to the courts or made during a time of crisis. Elderly estate planning gives your parents a voice and gives your family peace of mind.
Many people make preventable estate planning mistakes that can leave their loved ones with legal complications, unexpected costs, and unnecessary stress.
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
When it comes to death and disability, your will alone might not be enough.
Your estate plan should certainly be revised, if you have gotten married or divorced.
Dying intestate—without a will—may impose costs and delays on your loved ones. It can dynamite your estate plan, unless you made other plans.
What will happen to your assets when you can no longer manage them?
An inherited IRA can be a valuable asset, but it comes with specific tax rules and distribution requirements that impact estate planning.
Preparing an estate plan for managing and distributing your assets in the case of death is one of the most important steps you could take to protect and provide for loved ones.
Here are four types of estate situations that could call for professional legal help.
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