Parents are often worried about who will care for their children if they unexpectedly pass away. It is generally the parents’ responsibility make that difficult decision. Abdicating that responsibility and delegating it to a court is unadvisable, as no court can have...
Don’t forget Social Security benefits in an estate plan
There are many reasons to begin the estate planning process; however, no matter the reason, it is essential to ensure that it is complete. To each individual this might mean something else, but in general terms, this means considering what documents to include and...
Why should I update my will?
Creating a will is a crucial step in your estate plan. While not having a will can cause issues, not updating your will can be equally problematic. Your will, along with the rest of your estate plan, should evolve alongside your life. Here are a few of the many...
Do I need an estate plan in my 20s?
When you are young, the last thing on your mind is dying. You probably live each day to its fullest without any concern about what will happen after your death. However, the bleak reality is that death can occur at any time. All it takes is one illness or accident to...
What is Medicaid’s look-back period?
Some financially strapped seniors who might need Medicaid for their long term care sometimes find that their assets and income exceed eligibility requirements to receive Medicaid coverage. To make sure that they do qualify, some seniors spend their assets down to...
How can a trust help me with my estate plan?
There are many tools in an estate planner's toolbox to help them develop an estate plan that works for them and reflects their wishes. Trusts are one part of an estate plan that many estate planners may have questions about and not entirely understand. Estate planning...
Resolve to review your estate plan this year
Creating a will and an estate plan is just the first step in ensuring one's assets are distributed according to their wishes after their demise. To make sure that it takes into account changes in laws and life situations, it should be revisited every couple of years....
What to include in an effective estate plan
Estate planning is sometimes something that people shy away from but they should not. Having an effective estate plan in place can provide peace of mind for the estate planner and their family that they have everything taken care of to ensure assets are distributed...
When can I challenge a will?
There are a variety of reasons that may cause an interested party to challenge a will and if you have concerns about a loved one's estate, you may wonder when and how you can challenge a will. Will challenges are not generally terribly successful but there are several...
What is a trust and how is a part of an estate plan?
Trusts are an important tool that can be used as part of an estate plan or to help manage property during the estate planner's life. If you are considering a trust as part of your estate plan, you may have many questions about what they do and how to set one up....