Long-term senior planning can be an uncomfortable or sensitive topic for many people, as it involves planning both for long-term care that one might need later in life as well as an estate plan that best fulfills one’s wishes after they have passed away. Arranging this type of care and…
One key part of creating your estate plan that deserves thoughtful consideration is choosing who will carry out the wishes in your will and who will make decisions on your behalf if you become incapacitated. “These designations are important and should be considered very carefully, no matter the size of…
With an account set up to “transfer on death,” the assets go directly to beneficiaries upon the account owner’s passing. Creating an account this way is beneficial in avoiding the costly and time-consuming process of probate, but it’s important to make sure that the account titling fits with the rest…
In last week’s post, I addressed 3 key questions to work through as you begin creating a living will. Here are 5 more vital questions to consider: — How do I get a living will? — How much does it cost to put together a living will? — What should…
A living will — together with other estate planning documents, such as a health care proxy — is essential for caring for and protecting loved ones and communicating your medical wishes. These estate planning documents are important not just for those who are older or who have significant medical diagnoses,…
This remarkable court case from Oklahoma demonstrates how crucial it is to have a clearly written will, ideally by an experienced estate planning professional: A man passed away and was survived by two adult children and a grandson. The man left a one-sentence handwritten will – called a holographic will…
Although the term “estate” makes many of us picture huge, luxurious houses, estate planning isn’t just for the ultra wealthy. All of the property you own – including your home, heirlooms, jewelry, accounts, and insurance – is your estate. Estate planning is important for the present and future management of…
End-of-life planning is often a sensitive topic to talk about with our closest family and loved ones, but it is also a necessary topic to discuss to set families at ease and to avoid unnecessary stress and legal hurdles. Estate planning meetings usually involve adult children with their elderly parents,…
Many people think of a Last Will and Testament as the main tool for “normal” estates, with trusts only being for large estates. However, revocable living trusts are one of the most underutilized estate planning tools. Living trusts are documents that give a set of instructions for the use of…
When it comes to estate planning, people tend to focus more of their attention on large items and accounts such as real estate, business interests, and investment accounts. When this happens, personal possessions that might seem mundane and a part of everyday life are often overlooked. It’s these day-to-day objects,…