If someone has approached you about being an executor for an estate, you may want some time to consider your responsibilities. Overseeing the closure of someone's estate can take time and requires careful adherence to specified legal documents. Knowing some of the...
How can I avoid mistakes with beneficiary designations?
A Last Will and Testament is not the only estate planning tool at your disposal even though having a solid Will in place is important. According to Kiplinger, assets like life insurance policies and retirement accounts pass via beneficiary designations. Much like your...
What are the types of special needs planning?
As a parent of a special needs child, you know you must plan for the future. You need to have something in place to handle all the roadblocks that may come up in time, such as when your child reaches the age of 18 or your own inability to care for your child as you...
Special needs children and estate planning
The Centers for Disease Control and Prevention reports that 26% of American adults possess some form of disability. Out of these, one in three between the ages of 18 and 44 dealt with an unmet medical need in the last year because of the expense. If you are a parent...
How do you select your beneficiaries?
When you create your estate plan, you are doing so in large part for your beneficiaries. Beneficiaries are the individuals who will inherit your assets after your death. These assets can pass pursuant to your Last Will and Testament and also by joint ownership or...
Which estate planning myths are not true?
You may not be surprised to hear that a lot of Americans do not have an estate plan. Despite the importance of an estate plan to the future of you and your family, you may not think that you need one. According to U.S. News, there are some myths that you should avoid...
Are co-executors a good choice for your estate?
Choosing the right person to be the executor of your estate may help your loved ones receive their inheritance without complications. Still, some people struggle with this decision. They may want more than one person to handle their estate. While it is possible to...
When can you contest a will?
If you disagree with the contents of a loved one's will, then you might wonder if there is anything you can do about it. In Pennsylvania, you can contest the will in certain cases. But not just everyone can contest a will for any old reason. You must fulfill several...
What makes serving as an Executor so hard?
Family members often see serving as the Executor as a position of honor. You may have also shared this view. However, once the work gets started, things can become complicated very quickly. The simplest mistake may not only cost you the ire of family members but also...
Your parents and planning for their future
When a parent enters long-term care, it is a major step for most families. It might seem like everything is happening at once. What you might not know is that many of the details of this process are relatively simple to plan for. It is a whirlwind without preparation,...
