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Those who care for a child or adult with special needs may eventually decide to fund a special needs trust. Those thinking about the future needs of a family member with special needs often worry about setting aside enough resources for their care and imposing the...
Estate plans sometimes include documents that discuss what happens after a medical emergency. However, their primary focus is often the protection of someone's loved ones and the establishment of their legacy after they die. When someone has young children, ensuring...
The average person's goal when creating an estate plan is to guide what happens with their property when they die and to provide support for their family members. Some people also include documents that can help provide them with protection and support if they ever...
Once people finally begin the estate planning process, they’re often surprised by just how much information they can include in their personalized legal documents. For example, if you are starting to construct an estate plan, you can use a health care directive to...
Many testators putting together a comprehensive estate plan create trusts to achieve specific goals. They may be at risk of estate taxes because of the value of their personal holdings or worry about their eligibility for Medicaid later in life. Those with specific...
As you do your estate planning, you may find yourself rather worried about one of your heirs. Their financial situation is not very stable. Maybe they have a lot of overwhelming debt or they tend to make poor financial choices. You’re worried that your inheritance is...
Everybody makes mistakes from time to time. Minor errors are easily forgiven and corrected. But some mistakes can affect you and your family for years. One of these is poor estate planning -- or not doing estate planning at all. An incomplete or ill-considered plan...
A medical power of attorney (POA) gives your chosen party the legal right to make health care decisions on your behalf if you’re ever unable to make them for yourself. This designation is an important part of end-of-life planning, and people commonly select a family...
Developing a comprehensive estate plan requires a lot of consideration concerning how you want to handle your assets in the event of your death. Most people know to write out a will, but many don’t think about how trusts can benefit them and their loved ones both...
Trusts and trust funds have long been associated with the uber-wealthy, but they’re becoming much more common for people of more modest means – largely because of their versatility. Trusts are highly effective tools to limit unnecessary estate taxes and retain a...