Estate planning can involve a variety of different tasks, including planning for medical emergencies and long-term care later in life. However, for many people, the goal is to create a meaningful legacy. Many people wish to pass property to specific beneficiaries....
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Estate Planning
Preparing for the unexpected: Crisis planning tips
Life is full of surprises, and while it’s important to manifest smooth sailing, sometimes unforeseen events can disrupt even the best-laid plans. This is where crisis planning, an essential part of estate planning, comes in. With the right preparation, individuals can...
The importance of protecting assets for future generations
What an individual accumulates during their lifetime can help to ensure their comfort as they age. Their resources can also make a major difference for their close loved ones and dependent family members. Someone who has started a business, acquired real property or...
Thorough estate planning efforts include asset protection plans
An estate plan is highly personal. A testator who is creating documents has to think about their family and their personal wishes at length. They may need to name a guardian for their children or arrange for someone to care for a pet after they die. Many times, estate...
Updating an estate plan after a diagnosis of dementia
Aging is a privilege in many respects, but the process can be a very humbling one. Some people develop age-related health conditions later in life that affect their quality of life and even their legal rights. For example, consider dementia, which can develop as a...
What may happen if you do not have an estate plan
Having an estate plan – whether a will or trust – shows that you have the foresight to ensure that your assets get distributed the way that you want them. The benefits of having an estate plan are many and include protecting your beneficiaries, protecting young...
The importance of health care directives and powers of attorney
In estate planning, ideally, you want control over important decisions related to your assets and personal matters. This includes matters tied to your health and finances. This is why it remains critical to include a health care directive as well as medical and...
When do individuals need to update their estate plans?
Completing your estate plan is an important and commendable step in ensuring financial security for your family in the future. But it is not the last step. In fact, without regular check-ins and updates, your plan can become out-of-date and unable to do the things you...
Trusts: a powerful estate planning tool
Your life savings and estate won’t be useful to you after your death, but they will be to your family. You can ensure a comfortable and secure life for your loved ones by setting up a trust that will distribute your estate among them when you are gone. With a trust,...
Estate planning is not one-size-fits-all
Some products and services are the same for everyone. But most of the time, you get the best value when you can customize what you are buying for your individual tastes, needs and goals. Just like you would not buy a pair of one-size-fits-all jeans, a generic estate...