The purpose of estate planning is to ensure all assets transfer to your specified heirs as efficiently as possible. Establishing a trust can be a complex process. Let’s look at a few mistakes that are commonly made when coming up with a trust. Designating The Wrong Trustee You will eventually need someone else to manage…
To take on the responsibilities of a guardian is a vital role and one of exceptional trust and responsibility. Read on to learn more about avoiding some common mistakes. Essentially there are two roles a guardian may undertake. Guardianship of property of guardianship of a person. Each is different. A court may appoint an individual…
When you can no longer make financial decisions for yourself a Financial Power of Attorney gives another individual the capability to take financial decisions on your behalf. Read on to learn more. Understanding a Financial Power of Attorney A Financial Power of Attorney is a legally binding document whose purpose is to appoint a someone…
Following a surgery, an injury or the onset of a medical condition that you can no longer make decisions for yourself, you can select a representative to take important choices for you. One example is a medical power of attorney who is a person you can trust to make medically related decisions for you. A…
Try to avoid these five common mistakes when writing your will. 1. Planning For Death Only Wills are incomplete if they only cover what happens when you die. Wills should also include what happens while you’re alive and well. This is best accomplished with complimentary documents to the will that are known as advance directives.…
Even though every estate plan is unique, a lot of estate planning mistakes are not. In spite of the details of your personal circumstance or your estate objectives, it’s worth your while to examine these 6 common estate planning mistakes and learn how to avoid them. 1) Not Having an Estate Plan Not establishing an…
Nobody ever wants to think about their own death, but it is an inevitability that needs to be planned for. Here is a list of 5 essential things that every will should include. 1. Property List The first thing to tackle as part of your will is determining which assets/property to include. You will want…
Typically, a divorce may be put on hold from 60 to 90 days in the U.S., but the exact time limit will depend on your legal system. Couples must decide whether or not to finalize their course of action regarding a divorce during this time frame. What Are The Legal Ways To Put A Divorce…
While every case differs, the divorce mediation process tends to take an average of one to six months to complete. What Is Divorce Mediation? Divorce mediation is the process allowing divorcing couples to meet with a professional-trained, unbiased 3rd party to talk about and resolve typical divorce-related matters. Mediation is usually less strenuous and less…
While it may not be the first thing on your mind, sitting down to work out an estate plan is a smart thing to do after your marriage. Creating or updating your estate plan will help your new family unit handle the unexpected. Change Account Beneficiaries Start by updating the easiest thing involved in this…
