If you find the prospect of developing your estate plan depressing, the thought of writing your own obituary may sound particularly morbid. However, this has become an increasingly common exercise for people of all ages. Therapists and writing teachers use it. It can...
Estate Planning
3 reasons you might need to revoke your power of attorney
A power of attorney is one of the most important estate planning tools you can set up. Basically, a power of attorney authorizes another person or entity to make financial and healthcare decisions on your behalf in the event of incapacitation. Sometimes, however, the...
Are no-contest clauses really effective in deterring will contests?
Setting aside time and resources to create a will is one of the most important steps you can ever take. This is supposed to be the last word regarding how you would wish to have your property distributed when you die. But will contests are not uncommon. If you are...
How might you be setting your will up for problems?
If you make a will you will be well ahead of many people. Yet, if you make it badly will, your advantage won’t be so clear. Here are some typical mistakes that people make that jeopardize the chance of their assets being distributed in the way they wish: Duplicate...
Don’t make the mistake of procrastinating estate planning
Did you know that most people don’t have an estate plan? Everyone is going to need one eventually. But it’s still true that roughly 2/3 of people have never made a plan and do not yet have one in place. One of the main reasons for this is simply that people are...
2 steps you can take to protect your will from disputes
A will is the cornerstone of any estate plan. With a properly executed will, you can develop peace of mind knowing that upon your death, your hard-earned assets will pass down to the people and causes that are dear to you. But while a will is designed to articulate...
Make your wishes known: The benefits of a living will
Suppose you are severely incapacitated by an illness or a catastrophic injury and unable to communicate your medical wishes effectively. How long should you be kept on life support? Should doctors attempt a delicate surgery that may keep you alive but reduce your...
Why digital estate planning is so important
Digital estate planning is becoming an increasingly urgent concern. To better ensure that your digital assets and online presence are properly managed and protected after your passing, it’s important to add digital planning terms to an existing estate plan or to craft...
A no-contest clause can prevent heirs from challenging your will
If you are worried that your heirs might contest your will after you die, you may want to consider a no-contest clause in your estate plan. Before you do, however, you need to understand their uses and limitations. A no-contest clause can’t legally stop someone from...
Why you should learn more about estate planning
Estate planning allows you to state your wishes should you become incapacitated or die. These include how to distribute assets, how to and who will raise your kids and who should make decisions on your behalf. Anyone above 18 years and of sound mind in California has...