Estate plans should be like living, breathing creations that reflect the changes in your life.
Estate planning is not a static event that you can grudgingly do once and then forget about it. On the contrary, estate planning is a continuing process, because life is a moving target that is full of constant change: Your estate plan needs to change as your life changes.
Posted by: The Life and Legacy Planning Group Estate plans are almost magical: They allow you to maintain control of your assets, yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can even keep your [...]
A comprehensive estate plan that considers all assets – including family heirlooms and keepsakes – is key to making sure your wishes are followed once you are gone.
Without specific guidance from you, money that is left outright to your loved ones probably won’t be used the way you would like.
Receiving a large sum of money can be very exciting and overwhelming.
While putting together an estate plan is important for you and your loved ones, it is equally important for you to understand the role of the trusted individuals who will be carrying out your wishes when you are unable to.
Five words no one ever wants to hear from their doctor: “Get your affairs in order.”
Getting the news that you have to undergo major surgery is never easy. Preparing for absences from work, planning for childcare and household responsibilities, and reviewing your estate plan will be among the things you may be worrying about.
Trusts are not just for the wealthy: In states that practice Medicaid recovery, for instance, your survivors may receive a large bill for Medicaid-funded nursing home care after your death, which can force the sale of assets like the family home. Some states even seize life insurance proceeds. Depending on your situation, a trust can prevent this from happening.