When you get around to drafting an estate plan, your life may look one way. Years later, however, things may change, and your life may have gone in an entirely different route. Updating your estate plan is something particular life events dictate. For example, getting...
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Protect your disabled child with a special needs trust
While it is important for everyone to create an estate plan as they grow older, doing so is particularly important for you if you have a disabled or special needs child who will require considerable care in your absence. Providing lifelong care for your disabled child...
4 important characteristics of a health care power of attorney
One of the most important estate planning decisions you will make is selecting your health care power of attorney. A health care power of attorney, also known as a health care proxy, is an individual you designate to make medical and health decisions on your behalf in...
3 dangers of DIY wills
It is vital for people to create estate plans when still in the right state of mind to do so. They need to ensure all their assets and belongings go to the proper parties, or else significant confusion could arise upon the person's death. This confusion can also occur...
3 reasons to include long-term care in your estate plan
If you are young, you probably do not think much about either retirement or the final years of your life. As you reach middle age, though, your outlook is likely to change. If you have not thought about long-term care, you may be missing the boat. A growing number of...
How to include pets in estate plans
It is natural for pets to feel like members of the family. Therefore, it makes sense to prepare accommodations for your furry companion as you develop an estate plan. You may not realize you need to include a pet in your will, especially if you are still fairly young....
You are in charge—and also liable—as executor of an estate
Let us say your uncle named you as the executor, or personal administrator, of his estate. Uncle Joe passed away unexpectedly, and you are suddenly in charge of winding up his affairs. This is a serious responsibility, and you can be considered liable for any...
Estate planning tips for blended families
Whether you have lost your former spouse to death or divorce, remarrying often brings hope and happiness into your life again. Of course, it comes with its own challenges, especially when you each have your own children from previous relationships, but it is possible...
Potential setbacks of doing estate planning on your own
There are numerous online resources available now that promise to make it easy to create wills and other essential legal documents. However, it is critical to remember creating an estate plan is one of the most important things you will do for your family. You need to...
3 tips for choosing a charity for your estate plan
When you are writing up your estate plan, you may have the desire to give some of your wealth to charity. Not only does charitable giving through estate planning make you feel good and make a positive impact on the world, but it can decrease your tax burden...