As you complete your estate plan, a thorny issue sometimes arises. One or more of your potential beneficiaries has proven to be ill-equipped at money management. This presents a major dilemma for those trying to make prudent estate planning decisions. You don’t want...
There is a persistent myth that people don’t need to think about estate planning until they are at retirement age or even past it. Actually, you can embark upon estate planning much earlier in your life if you wish. You never know when you might be unable to...
You might think that having insurance coverage will provide a soft landing when you fall sick, at least financially, but that is not always the case. Instead, you could be in for a nasty surprise when the insurance company denies your claim, leaving you on your own....
Insurance companies may have a short-term financial incentive to deny claims. Putting profits above people can lead to bad faith denials. Fortunately, most insurance companies do not deny claims unreasonably, as a financial institution must earn the trust of its...
Estate planning isn’t just about directing what happens with your assets after you die. It’s also about protecting your future. One important part of any estate plan is a health care directive. Having a health care directive in place is one of the best things you can...
No one wants to spend their golden years in a nursing home, but that is exactly what some older adults will require. Whether due to Alzheimer's disease or physical injuries, they may need more care than what their family members can provide for them. Even if you are...
Naming a personal representative is often an important part of creating an estate plan. Your deceased loved one likely chose someone whom they trusted for that position. If they didn't name someone, then the court will appoint a representative for the estate. Most of...
Your estate is made up of your assets, property and money … and it is alive. Think of it like a house plant. Once acquired and placed in that perfect spot in the home, you need to provide it with some care to keep it from drying up. So is your estate plan. Once you...
Your estate plan ensures the distribution of your estate according to your wishes after your death. It also provides direction for your care in the event of your incapacitation. An estate plan includes more than a will. It includes several documents that you should...
A detailed estate plan doesn't just protect the people you love by ensuring they inherit your assets. It also helps protect you from poverty in your final years of life. Although you may not have worried much about your retirement when you first drafted a last will,...
