Writing an estate plan is important for your future and for your family. Far too many people haven’t written a plan at all. They’ve left no instructions for the distribution of their assets or what end-of-life care they would like to receive. However, even among those...
Estate Planning
Can you divide life insurance with your will?
Your life insurance policy is set to make a substantial payment to your adult children when you pass away. You purchased the policy when your first child was born, knowing it was an easy way to provide for them in the future. This may be the most valuable asset that...
3 reasons why people don’t make estate plans
Most people understand that they will need an estate plan at some point in their lives. They’re going to pass away and they need to – at the very least – leave behind a will to tell their descendants what to do with their financial assets. Many are also aware that...
An advance directive can help you plan for end-of-life care
You can make your medical preferences known for a time when you cannot express them yourself and possibly at the end of your life in an advance health care directive. Sometimes, these are referred to as living wills. In your advance directive, you can address various...
Do you need to leave $1 to disinherit someone?
You would like to disinherit someone from your will. Perhaps you are unhappy with the choices one of your adult children has made, or maybe you simply know that they don’t need the financial support and that the money would be better used elsewhere. You want to take...
What’s a pretermitted heir?
Sometimes, a testator will purposefully exclude one or more of their heirs from their estate – but what happens if they do so accidentally? Errors of omission in wills may be more common than most people realize, but the law doesn’t want to see anybody disinherited...
What does a medical Power of Attorney do?
The estate planning process largely revolves around who your assets will go to upon your death. Nonetheless, there is so much more to estate planning. You can utilize estate planning documents, such as a medical Power of Attorney, to ensure that appropriate decisions...
Are there better options than a DNR order?
When people use a DNR order, or a Do Not Resuscitate Order, they do not want life-saving measures to be used in certain circumstances. If their heart stops beating or they stop breathing, they don’t want the medical team to use CPR to bring them back. Often, people...
3 essential components of an incapacity plan
Planning for unforeseen circumstances is not just prudent; it’s essential. Of course, nobody likes to dwell on the possibility of becoming incapacitated. But, having a plan in place can provide you with peace of mind and help to ensure that your wishes are carried out...
4 reasons you may want to disinherit someone
One of the hardest choices a testator may have to make during estate planning is disinheriting a close family member. However, the law provides for individuals to have control over the distribution of their assets after death. While disinheriting a family member is a...