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...]
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...]
Wills: What You Need to Know
If you are one of the 70% of Americans that do not have a will, it’s time to make a change. A will does not have to be complicated to prepare, but it does need to meet the requirements of your state in order to be valid. When you die without a will, it’s referred to as dying intestate, and it places an unnecessary burden on your loved ones. Your property will be distributed according to your state’s intestate laws. The court will decide who takes your children. When you die intestate, your … [Read more...]