As you set up your estate plan, your main goal may be to transfer the financial assets that you own on to the next generation. You also have to address some physical assets, such as family heirlooms or a house, but finances play a big role. Exactly how you do this...
Estate Planning
Should you put your home in a trust?
As a part of your long-term care plan, you may want to consider putting your home into a trust. If you intend to stay in your home and live there as you age, putting it into a trust could be a good option that will allow you to protect the asset and your right to...
Do you need to put everything in your will?
You may have heard people say to update your will to ensure everything is accounted for. It would be more correct to say update your estate plan. A will is not the only estate planning tool, and including an asset in a will that you have already dealt with elsewhere...
Choosing the right conservator: Things to consider
A conservator is a person appointed by yourself or the court to manage your estate and other aspects of your life should you become incapacitated. Given the nature of their responsibilities, it is important that you choose the right individual for this role. However,...
Your debts can prevent you from leaving an inheritance for family
When you decide who receives your personal possessions, you probably make those decisions based on the personalities of your beneficiaries and your relationship history with them. Although you may consider and try to balance the financial value of those assets, the...
Is it time to discuss estate planning with your aging parent?
Your parent had a scary fall and ended up in the hospital to be treated for a broken arm. While you have been aware of the risk of falls and injuries, this accident might have made it especially clear to you and your siblings that your parent is not getting any...
Hoping to age in place? Here are 2 things to consider
One major consideration of people who are getting older is where they’re going to live. For many, aging in place is a priority because they don’t want to leave the home they’ve had for a long time. Others may opt to move into an assisted living home or a long-term...
Address your estate plan if you have early onset dementia
When you find out that you have early onset dementia, it makes complete sense to turn to estate planning for help making sure your wishes are known in the future. Dementia and Alzheimer’s disease largely affect those over the age of 65, but there are times when early...
How getting a reverse mortgage will affect your heirs
It seems like you can’t watch television for more than half an hour during the day without seeing at least one ad for reverse mortgage loans. Many older people who’ve lived in their homes for many years choose to get a reverse mortgage because it can provide them with...
2 times your estate may not have assets left for your loved ones
When you go through the trouble of creating an estate plan, you do so because you care about your legacy and the people in your life. You want to leave assets for your spouse and your children. Maybe you want to donate to a charity or scholarship fund that means...