One of the matters that a comprehensive estate plan is going to address is that of health care preferences. Much has been written recently about which end-of-life medical procedures may or may not be implemented, but we all have the power to control our own destinies in that regard. There is a legal instrument that should be a part of every estate plan that is known as an advance health care directive. An individual states his or her preferences in this document pursuant to matters such as the … [Read more...] about Advance Health Care Directives Protect Same Sex Couples
Living Trusts & Probate
A well structured, comprehensive estate plan can contain a number of different components. Many people are under the impression that estate planning revolves around the drafting of a will, and this is of course one of the ways that you can state your wishes concerning how you would like your assets distributed upon your death. However, when you utilize a will to this end the estate will have to go through the process of probate. The probate or surrogate court is charged with the responsibility … [Read more...] about Living Trusts & Probate
Life Insurance Is Key Element Of Estate Plans
As the field of elder law broadens in scope there are a number of retirement and estate planning components that many people are learning about for the first time. Things like advance health care directives, durable powers of attorney, pay on death accounts, living trusts and other relevant legal instruments do indeed aid in effective estate planning. But some things that we are all well aware of never go out of style, and life insurance is one of them. When you pass on there are going to be … [Read more...] about Life Insurance Is Key Element Of Estate Plans
Who Will Be Executor Of Your Estate?
The first thing that most people consider when they start to plan their estate is their will, and this is of course a very important component. Deciding exactly how you would like to see your assets passed on to your heirs can indeed be challenging, but that is not the only thing that you have to consider when drawing up your will. You also have to appoint someone to be the executor of your estate, and this person is going to have a significant amount of work to do in your behalf. Upon your … [Read more...] about Who Will Be Executor Of Your Estate?
The Wide Scope Of Probate Law
Probate is the legal process that an estate has to go through unless steps have been taken to avoid it, and of course probate lawyers represent the interests of their clients in probate or surrogate court. But they typically handle myriad issues beyond the matter of the probate proceeding itself, and many probate lawyers offer holistic planning solutions to their clients. The senior citizen population is the fastest growing segment of the population in the United States. And when you drill down … [Read more...] about The Wide Scope Of Probate Law
Elder Law & Retirement Planning
The field of elder law is something that is growing at the present time largely due to the burgeoning elder population. The fact is that people are making healthier choices and enjoying access to ever-advancing medical technology, and that is prolonging the length and the quality of our lives. This is great news, but when you can logically anticipate a long retirement, you need to plan accordingly. Looking ahead is key, and it is important set your retirement goals and work toward achieving … [Read more...] about Elder Law & Retirement Planning
Estate Plans Benefit The Young
There is a general misconception that exists concerning estate planning in regard to age. Many people are under the impression that you don't need to prepare a will or engage in other forms of planning until you reach your twilight years and have accumulated considerable assets. In fairness, it is true that people at or past the age of retirement are probably going to see estate planning as a more immediate need than young people who are just starting out in life. But the fact remains that … [Read more...] about Estate Plans Benefit The Young
Goals Impact Actions
There are many misconceptions about estate planning, including what it entails in its entirety and when it becomes appropriate. The word "planning" is key here, and most successful plans are hatched with the long term in mind. There are those who never think about their estate throughout their lives, choosing to address the matter only after retirement when most of their financial choices have already been made. Depending on your desires and the extent of the assets you have acquired, this … [Read more...] about Goals Impact Actions
What Are Pay On Death Accounts?
To understand the benefits of pay on death (POD) or transfer on death (TOD) accounts you have to first take a look at the process of probate. When an individual dies the estate has to go through probate, which involves the legal administration of the will if there is one and the settling of any debts that may exist. This is done through a probate or surrogate court proceeding, and in many cases it can be nothing more than the shuffling of a lot of paperwork. However, if the will is being … [Read more...] about What Are Pay On Death Accounts?
FDIC Insurance to Protect Your Trusts
If you are concerned about the safety of your bank deposits, it is time to get FDIC insurance coverage. The FDIC or Federal Deposit Insurance Corporation is a United States government corporation established in 1933, under the Glass-Steagall Act. It offers deposit insurance at 7,895 institutions. Why opt for FDIC insurance and what does it cover? The money you deposit in a bank is invested by that financial institution. However, if those investments fail, your deposits may be in danger. … [Read more...] about FDIC Insurance to Protect Your Trusts
