Wills are designed to be ironclad documents that set forth how you want assets dispersed to loved ones. They take the guesswork — or, in some sad cases, the arguments — out of a critical moment in this very emotional process. But they’re not ironclad at all. In fact, there are several instances in w...
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Building an estate plan requires a clearly marked paper trail so that your wishes can be followed. Organizing everything beforehand ensures that these end-of-life allocations are doled out in a timely and fair manner. Here’s what you’ll need. Last Will and Testament Wills are the most well-known of...
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By Angela Johnson, MSN Bob Marley, Prince and Aretha Franklin are just a few examples of celebrities who famously died without a will, leaving close family members and some family members they didn’t know they had to fight it out for the assets they left behind. And although millions of dollars may ...
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Though you may know that you need to plan for the future, you may not realize what that entails. You may have heard the term estate plan and figured that you still had time to decide what you want to be done with your things. In fact many prefer not to think about it, though […]
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By Sheila O’ Brian You know you should make a will, but you never seem to be able to drum up much enthusiasm for the idea. It seems like a big, complicated pain-in-the-butt undertaking and you’re not planning on dying anytime soon anyway. You know that lawyers cost a fortune, and who knows if you ...
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If you add up the value of everything you own and subtract the value of everything you owe, that’s called your net worth. When you die, it’s called your estate. While you’re still alive, you have the opportunity to designate how to divide your estate among your family and friends w...
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One of the most important legal documents an individual can sign does not take effect until after their death. Why would people care about what happens after they are gone? Because they cannot take their assets with them, people may want to ensure the property they leave behind is distributed as the...
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Your last will is designed to express your wishes after leaving your family behind. Given its importance and long-lasting impact, experts recommend that you consider every detail, including how your belongings are distributed, who controls your finances, and which family members are included in your...
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No one ever plans to be sick or disabled. Yet, it’s this kind of planning that can make all the difference in an emergency. Ben’s Story Ben has been married for 47 years. He always managed the family’s money. But since his stroke, Ben is not able to walk or talk. His wife, Shirley,...
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While you want to be as detailed as possible when creating your last will, there are numerous factors you should avoid. The most efficient way to decide what to include is by working with a trusted attorney. Of course, they will charge for their services, but hiring an expert gains valuable knowledg...
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