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Most people think about their property when they start to work on an estate plan, but that’s not the only thing you should think about as you get yours made. You should also think about how your medical decisions will be made if you become incapacitated. There are...
Some critical parts of smart estate planning don’t involve the estate plan documents themselves, like wills, trusts and powers of attorney. For example, it’s crucial to designate beneficiaries on retirement and investment accounts as well as life insurance policies. ...
Many people spend a lifetime building assets with the hope of passing them on to loved ones. Yet few take the time to consider whether those they leave behind are prepared to manage sudden financial responsibility. A significant inheritance can help bring opportunity,...
A springing power of attorney does not actually take effect until certain conditions are met. Even though you may draft your estate plan today and include the power of attorney, there could be a significant delay before the document actually applies and your agent...
As you draft your estate plan, have you started worrying about how certain beneficiaries may use their inheritance? Maybe you do want to leave them something, but you are not sure they are ready for it. For example, maybe one of your beneficiaries is a college...
Funding a trust can deprive an individual of immediate access to and control over key resources. Some people choose to delay the transfer of certain property until after their passing. They may include those assets in a will while using the trust to address their most...
Creating an advance directive for health care (or “living will”) is a critical part of estate planning. Even young, healthy adults who aren’t ready to create a will, trust and other documents that address how they want their assets disbursed when they die can benefit...
An estate plan can be used to set up future medical care, often by making decisions in advance. As people age, medical emergencies become more likely. It can be helpful for their family to have guidance in the estate plan regarding the type of care or treatment that...
There is no “right” answer to the question of how often you should update your estate plan. It all depends on what, if anything, has changed. A better question is, when should you review your estate plan? Reviewing it gives you the opportunity to understand whether or...
Setting up a power of attorney (POA) gives someone the legal right to act on your behalf. This can help with managing your finances, making medical decisions, or handling legal matters. But not all POAs are the same. Each one has a specific purpose, and it's important...