When most people think of estate planning, they think of wills and trusts and passing assets on to the next generation. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about what type of medical care and treatments you want, or
That sounds like something your mother might say, right? And how often have you wished you’d followed your mother’s good advice? Nobody really wants to think about the potential for accidents or illness, and it can happen at any age. But without advance planning, when you or an aging parent experience a serious injury and
More than 50 percent of Americans find estate planning important, yet statistics show only about 32 percent have a will. caring.com Those individuals with a will may have moved to a different state or forgot to update their will after life events such as marriage, divorce, births, and deaths, making it ineffective. One of the
A will is legally binding when properly filled out, addressing who receives your assets and properties after you die. However, there can be problems with a do-it-yourself will if it is not executed with precise legal knowledge. Your will names a personal representative (executor) who will carry out your directives. In addition to asset distribution,
Estate planning is a multifaceted process involving the creation of several documents spelling out a person’s wishes. During the process, you can name people to make financial decisions on your behalf when you are unable. You can designate beneficiaries for your assets. You can also express your wishes for what type of medical care you