There may come a time due to an accident or illness when you cannot make health care decisions for yourself. As part of your estate planning, you need to appoint someone who can step in and make medical decisions on your behalf. They are known as a health care proxy....
Focused And Personalized Attention Concerning Your Estate Planning Needs
Year: 2020
What is a conservatorship, and how can you plan to avoid it?
Thousands of people go missing every year in the United States. While many soon turn up, some never do. If you were to go missing, it could have a negative financial impact on your family, aside from the sense of worry and loss. They might need to seek conservatorship...
Paying tax when you transfer your estate is not inevitable
Benjamin Franklin once said that “nothing is certain except death and taxes.” While death certainly is inevitable, paying taxes on death is not. Avoiding or reducing the tax you pay when transferring your estate is one of the key estate planning goals. You may not own...
Will my children have to pay my medical debt?
Nursing homes are not a worldwide phenomenon. In many cultures, people expect children to care for their elderly parents themselves. Despite the ubiquity of care homes in the United States, you may be surprised to know that some states, including California, have laws...
Why retirement is the ideal time to update your estate plan
Retirement is an ideal time to update your estate plan. Not only will you have more free time on your hands to do it, but you are entering a new phase of your life where your priorities may change. What updates should you make to your estate plan? Here are some of the...
How to repair a broken trust
There are two main categories of trusts. Revocable and irrevocable. Revocable trusts allow the person that creates it, known as the grantor or settlor, to make changes or cancel the trust. Irrevocable trusts offer certain extra benefits in exchange for sacrificing...
Debt is an inheritance your children won’t thank you for
When creating an estate plan, it is crucial to look at your entire financial situation. You need to consider your debts, not only your assets. If you die before you can pay off your debts, it will have implications for your family. What happens to debt when you die?...
Include pieces of art in an estate plan
When creating an estate plan, you must include all the assets you own. If you forget to include items, it could delay the distribution of your estate and lead to conflict among family members over who gets those items. One of the assets that people often overlook is...
Can I be removed as executor of an estate?
It can feel like an honor when someone asks to execute their estate. Years later, when they die, and you have to step up to the task, you might realize you took on more than you bargained for. Executing an estate is a tough job that requires a lot of your time. If you...
Should you use the internet for estate planning?
If you like to do things yourself, you might consider using an online resource to create your estate plan. While it is possible, it is probably not the best idea. Estate planning mistakes can be costly If you have bought clothes online, you will know it does not...