Estate Planning

Estate planning comprises a meticulous process that undertakes planning for situations where a person wouldn’t be able to make their own decisions due to a disability or in the case of their passing. The term estate refers to the property one might own; both tangible and intangible. Your property could be hard cash, bank accounts, property, cars, jewelry, insurance, retirement, investments, savings, etc.

Bequeathing assets to heirs / beneficiaries or an institution and planning for incapacity remain main reasons for planning. However, that’s not all estate planning is limited to. Under this umbrella term, there are various other details that can be defined and elaborated.

Estate planning allows you to:

  • Protect assets
  • Medicaid planning
  • Designate a guardian for a minor child
  • Designate a healthcare proxy that can make medical decisions on your behalf
  • Use it for Medicaid planning for long-term care
  • Document end-of-life preferences

You also decide on a power of attorney that can make financial decisions and carry out tasks such as paying bills, settling debt, legal or business decisions, and manage an investment portfolio. When carried out with an estate planning attorney, it can be used to reduce or eliminate taxes.

Here you’ll find yourself perusing through a plethora of articles that could be your resource when you’re learning what planning is all about. You can begin by understanding the bare bones of planning and make your way up, studying different types of planning tools, what mistakes to avoid, what myths to not believe, and more.

Premium Estate Planning Guide for Women

Premium Estate Planning Guide for Women

Death doesn’t discriminate – it comes to everyone. However, on average, men die earlier than women. Women live longer than men, though their earnings might not be that much compared to men. Whatever the case, women have special needs when it comes to estate planning. As a lady, when is the last time you sat…

Planning Your Estate: Art + Collectibles

Planning Your Estate: Art + Collectibles

Building a collection takes years of dedication, time, and genuine passion. Whether your collection is filled with the most stunning renaissance artworks or McDonalds’ Kids Meal toys, creating an estate plan that dictates what happens to these items can ease your mind. Death is Inevitable Everyone dies. Bottom Line. You cannot escape death. Often times,…

Estate Planning 101: Will Disputes

Estate Planning 101: Will Disputes

When you read the dailies or listen to news, you will come across instances when a person has contested a will that was written by a deceased person. Of late, there has been an increase in the number of wills being disputed. A death in the family can turn out to be a blessing or…

What Does Estate Planning Mean to Millenials?

What Does Estate Planning Mean to Millenials?

Up until a few years ago, estate planning was regarded as a general term – with seniors and millenials understanding the concept the same way. Times have changed rapidly. As time goes by and lifestyles change, research has found out that the estate planning needs for millenials are totally different from the needs of other…

Ways to Clean Up Your Estate Plan

Ways to Clean Up Your Estate Plan

At first glance, estate planning can seem quite simple, but there are many things that one must consider. Many of these topics require re-analyzation as variables change. Follow this list to help clean up your estate plan! When you pass away, the executor of your will can have more than 100 tasks to completely settle…