Creating an estate plan for the first time is easier said than done. There’s a lot that goes into this process, so it’s critical to have a thorough understanding of what you’re up against. Familiarity with common first time estate planning mistakes will go a long way in helping you avoid trouble. While there’s no shortage of mistakes lurking, … [Read more...] about First Time Estate Planning Mistakes
Choosing a nursing home for an elderly parent is something you hope you never have to do. Unfortunately, there could come a point when you need to make this difficult decision. Not only is it difficult because you don’t want to move your parent into a nursing home, but it’s also a challenge because there are so many facilities to choose … [Read more...] about How to Confidently Choose a Nursing Home for an Elderly Parent
A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
There’s a lot that goes into creating an estate plan, so you don’t want to rush the process. Doing so puts you at risk, as you could end up missing out on something that would benefit you, your family, and/or your estate. The purpose of a living will is simple. You create this to ensure that you receive the right type of medical care and … [Read more...] about Take Advantage of a Living Will
Incapacity planning isn’t something you want to think about, but it’s critical to your current and future well-being. Not to mention the fact that it’ll also benefit your loved ones in the event of incapacity. Even if you’re young and healthy, there’s no guarantee that things will remain this way. For example, you could suffer a serious brain … [Read more...] about Incapacity Planning: Have You Answered These Questions?
There’s nothing worse than learning that someone you love has passed on. For example, as your parents age, this may be something you think about often. If you lose a loved one, it’s important that you give yourself all the time you need to grieve. It’s never a good idea to push yourself too hard during this time, as it can result in more harm … [Read more...] about Questions to Answer After Losing a Loved One
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset … [Read more...] about What Is a HIPAA Release?
A comprehensive estate plan is important to both you and your loved ones. However, this is even more so the case if you want to include someone in your estate plan who has special needs. In addition to concerns about how to best care for them after your passing, you may also have questions about the best way to leave them your assets. It’s … [Read more...] about Special Needs Planning and Direct Gifting: Take Caution
When you’re single and ready to create an estate plan, you don’t have to consult with anyone else. You can make every decision, never having to worry about the impact it could have on a spouse. Conversely, if you’re married, estate planning takes on a different form. Now, you need to consider what’s best for both you and your spouse, and that’s … [Read more...] about Estate Planning With Your Spouse: Ask These Questions
After you create an estate plan, you can sit back and take a deep breath. You now have something in place that answers questions such as: What will happen to your assets upon your death? Who will provide for you in the event of incapacity? Do you know where you want to receive long-term care? You get the point. An estate plan can … [Read more...] about How to Know if Your Estate Plan Requires Attention