As a parent, you’re likely hoping to leave your children an inheritance. But without taking the proper precautions, the wealth you pass on is at serious risk of being accidentally lost or squandered. In some instances, an inheritance can even wind up doing your kids more harm than good. Creating a will or a revocable […]
Following the death of the policy holder, the way in which proceeds from a life insurance policy are paid to the beneficiary (or beneficiaries) is known as the settlement option. And you might be surprised to learn that there are a variety of settlement options available besides the most common method—a lump-sum payout. Depending […]
When you think about those loved ones who’ve passed away, you probably don’t think very much—or even at all—about the “things” they’ve left you. And when they do leave something behind, what you likely cherish most about the object are the memories and feelings it evokes, not the thing itself. Preserving your intangible assets We […]
Elder abuse can take a wide variety of forms, but I think the worst of the worst is caused by unscrupulous adult guardians appointed by a court to care for seniors who are no longer able to care for themselves. And though you may not want to believe such a thing could happen, you need […]
Now that same-gender couples can legally marry in all 50 states, more Americans than ever before are enjoying the rights and benefits that come with marriage. Estate planning is one arena where these new rights and benefits are readily apparent. While the planning vehicles available to same-gender and opposite-gender married couples are generally the same, […]
For lots of people, their pets are thought of as members of the family. Indeed, pets are some people’s closest companions. If you’re one of those people and you want to make sure your furry friend is provided for in your estate plan, here’s how to make that happen. Be aware, unlike your human family […]
Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy-sounding name, it’s a fact that a tremendous amount of wealth will pass from aging Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history. Because no one […]
If you were to suddenly die today, would your loved ones know how to quickly find your estate planning documents? Would they know how to access all your financial accounts? How about your insurance policies? What about your login and password info to all of your digital assets? One crucial part of estate planning that […]
If you’re like most people, you probably view estate planning as a burdensome necessity—just one more thing to check off life’s endless “to-do” list. You may shop around and find a lawyer to create planning documents for you, or you might try creating your own DIY plan using online documents. Then, you’ll put those documents […]
When it comes to putting off or refusing to create an estate plan, your mind can concoct all sorts of rationalizations: “I won’t care because I’ll be dead,” “I’m too young,” “That won’t happen to me,” or “My family will know what to do.” But these thoughts all come from a mix of pride, denial, […]
