When someone names you as their personal representative, you will have many duties you must carry out when that person dies. You become responsible for the estate, and you must make sure you are completely transparent in all actions you take involving the state. To...
How can you help your parents plan their future?
If your parents do not have a plan in place for the time when they may need additional care or a long-term care facility, then the actual event can feel like a whirlwind of chaos and stress for them and for you. Fortunately, having a plan in place can help avoid this...
How can you choose a guardian for your child, especially one with special needs?
Like most parents, you believe your children deserve the world. To give children everything they need, sometimes you have to plan for a future where you may not be there to care for them. If you have a child with special needs, selecting a guardian may be even more...
Fulfilling the role of an executor
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...
Is it time to review your estate plan?
Reviewing your estate plan is an important part of your end of life plan. In fact, it is just as crucial as creating the plan in the first place. After all, an outdated plan that does not reflect your current wishes is as good as having no plan at all. So how do you...
Should I put my adult child on the deed to my home?
One of the primary goals of estate planning is to help your heirs avoid probate. Probate can take a very long time, particularly if any of your beneficiaries dispute your will or trusts. Probate is also a public process as it goes through the court system. Many people...
