Estate planning is a crucial process that individuals undertake to ensure the orderly distribution of their assets and protect their loved ones' financial future. However, for individuals with high net worth, the complexity and scope of estate planning can pose unique...
Estate Planning
Trusts and SSI benefits
When creating a trust, you need to take various factors into consideration, such as going over different types of trusts and the pros and cons of each option. If you receive supplemental security income (SSI) or plan on applying for SSI in the future, it is important...
Is now the time to update your estate plan?
Creating an estate plan is an important thing to do. However, the simple creation of the plan is not where things end. For the best results, it is important for people to update their estate plans somewhat frequently. But how does a person know when to do that?...
3 estate planning mistakes to avoid
A solid, up-to-date, estate plan is one of the best things you can do for your loved ones. Despite this, only 34% of Americans have an estate plan. Not having an estate plan at all is one of the most common mistakes. These are some others to avoid. 1. Not...
Can estate planning help your loved ones avoid expenses?
When creating or updating your estate plan, there are options that could help your beneficiaries reduce taxes and court expenses. With fewer fees and lower taxes, more of your wealth can pass down to your heirs. Furthermore, you can save your loved ones from the...
Is a funeral trust right for you?
If you have had to plan a loved one's funeral, you might already know just how expensive end-of-life expenses and final arrangements can be. In fact, according to World Population Review, the average funeral in California costs almost $12,000. You can spend...
Lonely seniors might be more vulnerable to undue influence
Watching parents age can be difficult for anyone. This is especially true if your parents must move into a nursing home or another long-term care facility. After all, these places can be isolating, causing residents to experience extreme loneliness. According to the...
How can you maintain control over your own funeral?
Most individuals eventually are going to have a funeral. Still, no two funerals are exactly alike, with family and religious traditions often determining how they unfold. It is not uncommon for individuals to pay a small fortune for funerals, though. In fact,...
Can I stop someone from abusing power of attorney?
Part of estate planning involves establishing a power of attorney (POA). A POA allows designated persons to make decisions on someone’s behalf, usually in times of disability or illness. If you suspect someone is abusing their power as an agent, take action as soon as...
Durable and regular powers of attorney
Powers of attorney are important legal instruments that allow others to act on your behalf. In the context of estate planning, you might use them to let other people make important financial decisions for you if you become incapacitated. If this is one of your goals,...