Our Estate Planning Blog
Your obligations to your family or loved ones do not stop, even if you have already passed on. If your family, especially your children, are still heavily dependent on you, you can still provide for them through proper estate planning, even if you are no longer present.
If you haven’t looked at your will or estate plan lately, now is a good time to do so.
Leaving a legacy — sounds like something only wealthy people can do, right? It can be something like making a giant bequest to a university or passing on a significant estate to your children.
Disability can strike suddenly and is one of the reasons appointing an agent on your behalf to act when you cannot, is so important.
When a loved one dies leaving property, debts and a mortgage, and if he did not have a living trust, probate is required to sort everything out.
If you own a business, you’ve always got plenty to think about: sales, marketing, employees, competition, industry trends and consumer preferences. The list goes on and on.
You can no longer make medical or financial decisions for your children without proper paperwork.
Do not put off finalizing and signing your estate planning documents, just because you have reached an impasse on who to name as trustee.
Imagine that tomorrow you suddenly become severely ill or incapacitated. Who would take care of your finances? How would they do it? If you don’t have a durable power of attorney, others, including your spouse, may not be able to conduct all your financial affairs on your behalf.
You should have a candid discussion with your parents about the point at which monitoring would feel intrusive.
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