When you include the right documents in your estate plan, you can protect yourself throughout your golden years, as well as your dependent family members. Some documents largely protect you as the testator or specific family members. Powers of attorney benefit...
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Estate Planning
Will all my assets go through probate when I die?
Usually, assets that may be probated are titled under your name. Such assets may include your bank accounts, investments, home and vehicles. If you die and these assets are under your name, they’ll have to go through probate before they’re transferred to your heirs or...
Is a DNR order enough?
A Do Not Resuscitate order, often known as a DNR order, is set up to prevent medical professionals from restarting someone’s heart or their breathing if either process ceases. The individual does not want to be kept on life-support, and they don’t want machines to be...
If you’re disinheriting someone, use the right clause
Disinheriting someone means cutting them out of your will even if they would have otherwise expected to be in that estate plan. For instance, simply not leaving money to a family friend doesn’t mean that you’re disinheriting them. They should not have expected to...
The real reason you need a will when you have a baby
Drafting a will gives you control over your assets after your death. You can provide an inheritance for family members or even leave certain property for a charitable cause. When you have a baby, a will could be a means of providing financial support for your child if...
Is it a problem to do estate planning early?
People sometimes believe that they don’t need to do their estate planning yet, and they may even think that it’s detrimental to do it too early. When you talk to those who don’t have an estate plan – the majority of Americans – they will often say that they don’t...
3 key considerations for business owners planning their estates
The business that you own may represent the vast majority of your personal wealth. It could also be evidence of a lifetime of career development and personal sacrifice. You naturally have specific intentions regarding your business. Maybe you want your loved ones to...
You should know about these 3 powers of attorneys
At some point in your life, you’ll plan your estate. Most people plan their estate later in life when they have more assets to consider distributing, which can discourage younger people from creating a will. Yet, wills aren’t just about asset distribution. You’ll have...
4 signs someone is a possible POA
If you’re working on your estate plan, one of the things you may have to do is select a power of attorney. You may need more than one, depending on what you want to add to your plan. For example, you may choose to have a health care power of attorney or to opt for a...
Naming an executor: 2 points to consider
Alongside drafting a will, one of the most important decisions you can ever make is choosing an executor for your estate. This is the individual who will “step into your shoes” when you pass on to implement your wishes and desires as outlined in your will. Given the...