Part 3 of a 3-Part Series Last week, in part two of our three-part post about probate-proof estates, we covered one option for avoiding probate with a strategy we called the “Piecemeal Approach.” Click here to read that post. And to catch up by reading part one, which introduced the concept of how to avoid […]
Category Archives: Estates
The Smartest Way to Make Sure Your Estate Plan is Probate-Proof First in a 3-Part Series Consider this important question: When did you and your estate planning attorney perform a full review of the following? Your long-term plans for your financial affairs Family Legacy? For that matter, have you ever sought out such a review? […]
Unfortunately, a startling 79% of millennials admit they never created basic estate plans in place. While your needs and goals may vary, nevertheless, estate plans offer important protection for every adult – including you!
Part 3 of a 3-Part Series Over the past couple of weeks, we examined important things to consider after losing someone to death. To read part one, click here. To read part two, click here. This week, we conclude the series by focusing on paperwork. Cancel benefits Family member recipients of Social Security, veterans, or other benefits […]
Part 2 of a 3-Part Series Estate Safety Considerations Last week, we began a three series about important factors to consider in estate planning after losing someone you love to death. Click here to read part one. This entry, the second in the series, covers ways to make sure the estate remains safe.
Determine which of your loved one’s accounts contains cash that can be accessed for the beneficiaries’ needs and other expenses. The last thing you want is for an item to be repossessed or the electricity turned off due to non-payment.
Along with your financial advisor, we can help determine which of your resources can be used to fund the special needs trust or if a life insurance policy may be needed to ensure that there are sufficient funds available to provide for the beneficiary’s care.
If your adoption is not yet final, but you love the child you intend to adopt and want to provide for him or her, you need to specifically name the child in your estate planning documents.
Make sure that your family members have proper medical powers of attorney and advance directives in place. These documents contain their wishes about how they would like their medical care to be handled if they are not able to make decisions for themselves.
If you are planning to speak to your parents about the need for an estate plan, it is important to try to include any siblings in the discussion to avoid giving the impression that you are trying to influence or control your parents’ choices.