When you can no longer make health care decisions due to serious illness or injury, what would happen? You don’t have to be old to become incapacitated. A living will, a component of an advance health care directive, can outline your…
Sibling rivalry. Families are prone to old rivalries from the past becoming more evident after the death of a parent. Adult children who are emotionally upset and in the unfamiliar territory of an inheritance process can invent new problems or magnify…
Most Americans believe estate planning is a one-time chore that can be filed away after it is completed. However, without being aware of the potential impact, people will make gifts during their lifetime or change listed beneficiaries on accounts which can…
Thirty years ago, a traditional family consisted of a man and woman who were young and in love, would buy a house, have children, and strive for financial stability and security. In 1949, 79.8 percent of American households were married…
Generally, a power of attorney designates a trusted individual to act on your behalf. They could be related to personal finances, business operations, or medical needs and used for a single immediate purpose or an ongoing situation. This may sound…
You probably have questions about how you want your estate dispersed and who is responsible for that process, whether you are in the middle of estate planning or just starting to think about it. A trust can be a great…
It is important to think through certain factors before naming someone as your estate's representative (executor) or accepting the responsibility of being the executor. Consider the complexity of the duties and in which order to pursue them. The following responsibilities…
Minor and adult children may have different opinions about family circumstances, especially when it comes to inheriting the estate. It is normal for relationships to change and intensify when someone you love dies, as underlying issues can come to the…
There is a high likelihood that you have a beneficiary and beneficiaries are common designations in retirement accounts, wills, and trusts. Beneficiaries are individuals (or legal entities) who will receive proceeds from financial products and vehicles after their deceased owners…