Even if you’ve already drawn up a will, if you’re in one of these situations, it’s a good idea to review your final wishes and make any necessary changes, so your money and personal belongings are left in the right hands.
So, what happens with your estate plans if you are not in a traditional nuclear family? There is quite a lot that can fall under the umbrella of a non-traditional family, and the recommendations will vary depending on your specific circumstances.
Changes in tax law and in your personal life may mean that yours needs to be updated. Here are the easiest (and smartest) ways to do it.
Your estate plan should certainly be revised, if you have gotten married or divorced.
What will happen to your assets when you can no longer manage them?
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.
A common dilemma that families face upon the incapacity or death of a loved one is locating estate planning documents. While preparing the documents are the most important step, that is irrelevant if the documents are lost when they most need to be used.
As soon as you are an adult, you should have an estate plan in place.
Since we’re all going to die (yes, even those of us who are still in our 20s!), we might as well make things easier for the loved ones who, along with grieving our loss, will have to deal with the financial and logistical pieces of our lives.
In this article, we will address two terms which some people use interchangeably, but which are very different things: living trusts and estate plans.
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