New parents have a lot of tasks they need to take care of. These include the obvious things like buying diapers and feeding the baby. But, there’s something else they need to think about – setting up their estate plan. There are many things that you need to think...
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Estate Planning
How can you ask your parents about their estate planning?
You may be concerned that your parents haven’t done their estate planning. It’s very common for people to procrastinate, and the next generation may be worried that there isn’t a plan in place. If something unexpected happens, what can they do? As a result, you may be...
4 Powers of Attorney you might benefit from including in your estate plan
Estate planning can be essential in safeguarding your financial future and better ensuring that your wishes are always respected. To navigate this complex terrain effectively, you must be well-informed about the tools at your disposal. One such tool is a power of...
Revocable trusts ease the transfer of assets
A revocable trust is a flexible financial arrangement designed to manage assets during one's lifetime and efficiently distribute them after death. Having a revocable trust often bypasses the lengthy and costly probate process. This makes it easier to distribute assets...
Testamentary capacity and the ability to create a valid will
Too often, elderly people who have procrastinated in creating a will believe it’s too late to do so. They’re afraid it will be disputed because loved ones will claim that they were too “senile” to understand the wishes they documented. In legal terms, such disputes...
How a power of attorney can protect people from guardianship
It is a well-known fact that many people experience cognitive decline as they age. Some older adults develop Alzheimer's disease or other medical conditions that cause dementia. Many others simply struggle to remain organized and to handle their responsibilities as...
6 questions to ask when making estate plans
Have you recently been asked if you have an estate plan? An estate plan is a series of legal documents that, essentially, instruct how your assets are handled after you pass away. Before you draft an estate plan, you may want to consider asking the following...
4 trusts to think about including in your estate plans
An estate plan gives you many opportunities to plan out what happens to your estate after your passing. While many people only create a will to instruct who should benefit from their estate, some people create trusts to provide their estates with more security. There...
Farmers have unique estate planning considerations
Estate planning is a crucial task for everyone, but it features unique complexities for farmers. In addition to personal assets, farmers must consider many other factors, including land, livestock, equipment and, often, a deeply rooted family legacy. This intricacy is...
Is a living will enough?
You could make a living will as part of your estate plan. This is a type of advance directive. It can be used to spell out your medical wishes so that future doctors can see what you want if you become incapacitated and you can’t make those wishes known on your own....