If there is one lesson everyone should take away about estate planning it is this: you need to do more than remain silent. Estate planning is, at its core, making choices and setting them down on paper. When you don't make any choices or, even worse, make the choice and assume that your wishes will be followed, you're going to have a bad time. Here are three reasons why remaining silent is not a good option when making a plan. Reason 1. California has already chosen who will inherit your … [Read more...] about A Recipe You Don’t Want: The Silent Estate Plan
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Attorneys at Law and Powers of Attorney – 3 Questions
Question 1: What is the difference between an attorney at law and a power of attorney? An attorney at law is a person who is legally allowed to practice law, while a power of attorney is a legal document that any competent adult can create. Through a power of attorney you can select someone else, commonly referred to as an agent or attorney in fact, to have the legal authority to act on your behalf in a variety of capacities. If you hire an attorney at law, this person can represent your … [Read more...] about Attorneys at Law and Powers of Attorney – 3 Questions
Tips for Choosing a Nursing Home for a Loved One
There is never a time when you will feel good about putting a loved one in a nursing home. However, if you find yourself in this position, you need to know exactly what you are doing. Unfortunately, the nursing home industry has received a bad reputation over the years. There are many reasons for this, including the fact that some facilities don’t meet expectations. Although there are reasons for concern, here is something you need to keep in mind at all times: there is a nursing home … [Read more...] about Tips for Choosing a Nursing Home for a Loved One
What are the Benefits of a Living Trust?
At some point, you will get involved with the estate planning process. Along the way, there are many questions to answer. Here is one of the most important: Should you create a will or living trust? For many years, a basic will was the most commonly used estate planning document. However, as of late, a growing number of people are turning their attention to a living trust. If you find yourself wondering what to do next, it’s important to understand the many benefits of a living trust. … [Read more...] about What are the Benefits of a Living Trust?
The Benefits of Buying Long-Term Care Insurance When You’re Young
When you’re young and healthy, the last thing you’re thinking about is buying long-term care insurance. However, there’s no better time than now to do just that. Once you realize what long-term care insurance coverage has to offer, you may find yourself shopping far and wide for the best policy. There are two primary benefits of buying long-term care insurance when you’re young: If all this sounds good to you, it’s time to compare long-term care insurance companies and policies. Doing so … [Read more...] about The Benefits of Buying Long-Term Care Insurance When You’re Young
What is a Special Needs Trust in Estate Planning?
Sometimes referred to as supplemental needs trusts, special needs trusts (SNTs) are important legal documents that are included in an estate plan with the goal of providing clarity for loved ones should you become disabled. It is part of a collective estate plan, and its importance shouldn’t be underestimated. These important documents provide the opportunity for those with a physical or mental disability – or one who has a chronic or terminal illness – to ensure your wishes are being met … [Read more...] about What is a Special Needs Trust in Estate Planning?
A Will or a Living Trust?
In recent years, many people have chosen to forego the traditional will and instead, have opted for a living trust. In many instances, it’s the best choice because of the many benefits it offers. But is it right for everyone? We'll take a look at both options in order to help you determine whether a traditional will or a living trust is best for your specific needs. First, let’s define each document. A will is a legal document used to designate beneficiaries for a deceased person’s assets. … [Read more...] about A Will or a Living Trust?
Why Do I Need a Probate Lawyer?
Most people choose to use a last Will to direct the distribution of their assets after they pass away, but it is important to recognize the fact that you have other choices. There are those who execute revocable living trusts instead, and this is something that you may want to consider. Simply set up a consultation with an experienced and qualified estate planning attorney and your lawyer will explain all the details to you so that you can make an informed decision. If you do use a last … [Read more...] about Why Do I Need a Probate Lawyer?
Divorce and Estate Planning
Divorce has a devastating effect on everyone involved. If you are currently in the middle of a divorce, or recently finalized a divorce, you may be going through a very rough emotional time. As such, thinking about the impact the divorce has had, or will have, on your estate plan may not be at the top of your list of concerns at the moment. While this is certainly understandable, the consequences of not addressing your estate plan in the wake of a divorce can be serious. Your ex-spouse … [Read more...] about Divorce and Estate Planning
Life Insurance & Your Estate Plan
We talk a lot about being proactive and seeking out a consultation with an estate planning attorney so that your family is protected. While it is true that estate planning is clearly going to be more immediately relevant to you as you get older, it is actually important for people of all ages. You never know what the future holds and nobody has a crystal ball. It is best to expect the best while being prepared for any and all eventualities. The time and effort that it takes to put an … [Read more...] about Life Insurance & Your Estate Plan
