Maintaining a valid and current estate plan is vitally necessary in order to ensure the efficient and orderly dispersion of assets after a person dies. However, even a small mistake can create huge problems during the settlement process, and in many cases, these errors are impossible for anyone to correct.
During the COVID-19 pandemic, having a care plan is an important part of emergency preparedness for older adults and their caregivers.
At the time, he had gone so far as to have his will drawn up, but he hadn’t finalized it. In addition, he hadn’t authorized anyone to have power of attorney, in case of illness.
An Advance Directive/Living Will is that type of document. It provides authorization for the termination of life support. It is a document that only you can sign – you cannot delegate the power to make that decision.
Estate planning offers tools to establish and maintain effective control over cash, investments and real estate assets during a person’s lifetime and upon death. While wills and beneficiary designations work well to ensure that an estate plan meets the unique needs of the individual establishing the plan, each has its limits.
Not everyone can afford to hire an in-home nurse or professional caregiver. Today, there are around 45.3 million unpaid, non-professional caregivers in the United States taking care of a loved one.
The rapidly evolving coronavirus (COVID-19) crisis is creating a plethora of unique estate planning and legal challenges across the globe, particularly given the volatility of the financial markets.
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
What is equal treatment at time of death can be disputed among the children, when some children have received substantially more in lifetime gifts than the others.
If you experienced a temporary illness or needed someone to quickly step in to pay your bills, would your finances be organized enough for them to handle?