Do you have a furry loved one who will need care after you pass away? If so, you can provide for your pet with a Pet Trust. This is an Irrevocable Trust that allows you to set aside money for your animal’s living expenses and medical care. Assistance to Pet The best way to help a loved one after you pass away is to leave an inheritance for him or … [Read more...] about Should You Use a Pet Trust?
Do you know how you will pay for your living expenses when you retire? If you don’t have enough retirement savings, you may have to continue working longer than you would like, or if you are unable to work, you may have to sell assets to pay bills. If you don’t currently have a plan in place, or if you haven’t given much thought to your plan, you … [Read more...] about Creating a Strong Retirement Plan
Medical emergencies happen every day. You never know when a medical crisis could leave you mentally disabled or in a constant vegetative state and unable to make your own medical decisions. This is why you should have a disability plan. One of the most common disability planning devices is an Advance Medical Directive. Choose a Health Care … [Read more...] about What Does Your Advance Medical Directive Do?
An essential aspect of estate planning is providing for your family members after you are gone. This is especially important if you have minor children. Until your children have reached adulthood they will need someone to care for them and financially provide for their needs. Name a Guardian You must choose a guardian for your children in case … [Read more...] about Including Your Children in Your Estate Plan
One of the initial steps to creating an estate plan is to evaluate how much your assets are worth and what debts you owe. The net worth of your estate can help your attorney to decide what level of estate planning you need. This evaluation will also determine if your family will have to pay estate taxes upon your death. Evaluating your net worth … [Read more...] about Evaluating Your Net Worth
A payable on death (POD) account is any type of bank account that you designate a person to take over upon your death. Name a "Beneficiary" In order to make an account payable on death, you must complete a designation form with your account holder. It is important to reevaluate these designations each time you up-date your estate plan. If your … [Read more...] about How a Payable on Death Account Works
Have you ever considered the possibility that you could someday become mentally disabled or physically in a vegetative state? Not many people consider this, but this could happen at any time. For this reason, a disability plan is a vital part of estate planning, and you should begin your preparation today. Your disability plan will take care of … [Read more...] about When is the Best Time for a Disability Plan?
Although there is more than one co-owner of a property under Joint Tenancy and Tenancy in Common, there are significant differences in the rights and duties assigned to the owners: Joint ownership provides equal, unlimited and free access to all the owners of the property concerned. However, the equity in the property is different. Each owner … [Read more...] about Difference between Joint Tenants and Tenants in Common
Guardianship is a legal process where a court appoints a guardian and provides that individual with the legal power to make decisions for and handle the financial affairs of a person who is incapacitated or is a minor. The person appointed by the court is called a Guardian; the incapacitated person or the minor is called the Ward. Setting up a … [Read more...] about Understanding Guardianship or Conservatorship
If you have Medicare, you have rights. You have the right to receive medical care, services, procedures and items that are medically necessary. Should Medicare deny coverage for anything that you or a physician feels is medically necessary, there is an appeals process. It’s a fairly quick and painless procedure, and 80%-90% of those appealing … [Read more...] about When They Say No – Appealing Medicare Decisions