News & Resources: Blog: Estate Planning

News & Resources: Estate Planning

Estate Planning

Avoid These Common Mistakes by Regularly Reviewing Your Estate Plan

Most Americans believe estate planning is a one-time task that, once completed, can be filed away until their deaths. However, without being aware of the potential impact, people will make gifts during their lifetime or change listed beneficiaries on accounts which can have enormous unintended consequences on their will or trust. Review your estate plan […]

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Being a Financial Guardian for a Loved One

Banking and payment of bills can become more difficult with age, but incapacity by accident or illness can strike anyone at any age, posing the same challenges. Incapacity is not just about mental cognition, accident, or illness. You may have a loved one who cannot drive themselves to the bank or has a distinct visual […]

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Special Needs Planning: What You Need To Know

Enabling the Disabled Families can carefully manage their money to meet disability rules while still providing perks to the disabled individual. Family money can be carefully managed to fit the disability-benefit rules and still provide additional perks for the disabled person to enjoy. And, though the rules can be strict, disabled people are still permitted […]

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Contesting a Will: The Process

When a loved one dies with a will, it specifies who shall receive their property and who will be in charge of settling their estate (called the executor). For many reasons, beneficiaries can feel slighted by what they did or didn’t receive, and some individuals are entirely excluded from inheriting anything at all. The legal […]

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How Important It Is to Have a Will

According to a Caring.com survey, the percentage of those with a will continues to decline, 33 percent in 2021 versus 42 percent in 2017. The COVID-19 pandemic sees one in three people understanding the greater need for a will, but 31 percent of those acknowledging the need, did nothing about it. Spikes in new cases […]

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Estate Planning for Nontraditional Families

The practice of estate planning is evolving due to changing family structures. As recently as thirty years ago, a traditional family comprised a husband and wife who married young, purchased a home, had children, and worked toward financial stability and security. In 1949, 79.8 percent of American households were married couples, but in 2021 that […]

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Planning for the Surviving Spouse’s Estate

Upon losing a spouse or long-time partner, it can be challenging to consider other matters besides grief. However, it is crucial to understand there are important and timely decisions you need to make regarding your finances and personal estate plan. In truth, estate planning is perpetual as it accounts for changes in marriages, deaths, divorces, […]

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Living Trusts: How They Can Benefit Seniors

Seniors are often the target of fraud and financial abuse. That’s why it’s important that planning is in place to help seniors protect themselves and their assets. As we age, it can become increasingly difficult to manage our assets. Most of us will, at some point, need assistance with these details to help ensure that […]

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Planning an Estate for Blended Families

Today’s American families commonly have stepchildren, and they are treated as if they were full biological children, even in cases of inheritance. This is particularly true where stepchildren are part of a blended family from an early age. Biological siblings may have different feelings about a stepchild inheriting what they perceive is theirs as a […]

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An Overview of Powers of Attorney (POA)

Estate planning involves implementing Power of Attorney (POA) documents. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to act as your agent or proxy on your behalf. Depending on which POA you choose, the agent’s power may […]

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