Year: 2019
“Talking about money is hard. Talking to your parents about their financial situation can be even harder.” Despite any uncomfortable feelings, the sooner you start talking with your parents about their financial situation, and the more conversations you can have, the better, says Wisconsin Public Radio in the article “How To Talk To Your Parents […]
“One of the most frequent questions asked in estate planning is whether a will is really necessary, particularly when someone has taken steps to avoid the probate process.” A will, also known as a last will and testament, is one of three documents that make up the foundation of an estate plan, according to The […]
“Taking care of these key tasks properly limits the potential for family turmoil and possible legal battles should you become incapacitated, as well as after your death.” Estate planning is a critical part of financial planning, but it is something that many Americans prefer to procrastinate about. However, drafting a will, health care proxy, and […]
“Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.” Think Advisor reported on a survey conducted by a financial services firm that revealed good news […]
“Movie scenes where a deceased tycoon’s will is read to a roomful of shocked and bitter relatives make for great drama, but drama is the last thing anyone wants, when seeking to preserve an estate for future generations.” Using an irrevocable trust ensures a far smoother transition of assets than a will, and also offers […]
“A woman was clear about her wishes before she had a stroke — in the case of a serious medical event, she did not want a feeding tube. She had even expressed her wishes in an advance directive, years before her stroke.” There are two sad parts to this story. The first was that the […]
“In the next few months, thousands of northerners — so-called “snowbirds” — will escape their snowy, cold climates to spend the winter in warm, sunny spots in the southern or western part of the United States.” The interstates get busy in September, when retirees take to the highways to leave the north behind and head […]
“When you create a living trust, you also sign a pour-over will. One of the main benefits of a trust is avoiding a court proceeding on death called probate, which is when wills are used.” If the goal of estate planning is to avoid probate, it seems counterintuitive that one would sign a will, but […]
“We all have witnessed how children have a difficult time understanding why one sibling was treated differently. To overcome this, parents will make the well-intentioned mistake that fair and equal are the same.” What may work fine when you are raising children does not always work in estate planning, as reported in The Press Enterprise’s […]
“Three handwritten documents, dated between 2010 and 2014, were found in Aretha Franklin’s Michigan home in recent months, including one in a spiral notebook found under her couch cushions.” The Queen of Soul’s lack of a properly executed estate plan, isn’t the first time a celebrity died without a will, and it surely will not […]
