By Sandra Dalton, Staff Writer The importance of estate planning cannot be overstated. Even if you don’t feel like you have much to leave behind, you need a plan to guide your loved ones so that they don’t have to make all the decisions or possibly fight over how those decisions are made. Those who do plan, often make mistakes. Following are three common estate planning mistakes you should avoid. Failure to Plan for Accidents or Events That Don’t Actually Kill You What happens if … [Read more...]
Take the Burden of Medical Decisions Off Loved Ones with a Living Will
A living will is also called an advance healthcare directive. Not to be confused with the will you create to designate how your assets will be distributed and who will take care of your children and pets when you die, a living will is all about the healthcare you want, and do not want, should you become incapacitated and unable to make decisions for yourself. It is a way to help ensure that your wishes are honored, and it also prevents your loved ones from having to figure out what you might … [Read more...]
What Happens After Probate Closes?
The death of a loved one is not something for which you can ever prepare. While you may expect it, you are never truly prepared for it. But, knowing what to expect regarding the estate after your loved one dies can help ease the transition and let you focus on the grieving process. The probate process can be a difficult one, so it’s important to know what lies ahead, especially if you are the executor of your loved one’s estate. If you have questions about anything regarding an estate or … [Read more...]
What is Probate Litigation?
The death of a loved one is a tragedy no one likes facing. Even if you are given time to come to terms with a loved one’s impending death, it can be a very sad, emotional time. What makes this time in one’s life even worse is facing probate litigation. Probate courts in each state are responsible for dividing assets among heirs after death. Typically, probate is a smooth process when there’s a straightforward will and everything is split among heirs in accordance with the wishes of the … [Read more...]
When and Why to Consider Estate Planning
A will is a relatively simple legal document that puts forth your wishes regarding the distribution of property, instructions regarding the care of minor children, and other decisions related to what is to be done at the time of and immediately following your death. An estate plan, however, goes much further than a will. While anyone with assets and a family should execute a will, some experts claim that not everyone needs an estate plan. Others say that regardless of your age and net worth, an … [Read more...]