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.

Estate Planning With Hoarders

Estate Planning With Hoarders

Hoarding affects an estimated 1.4% of the United States population. Estate planning with a hoarding situation is no ordinary undertaking – there is no limit to the potential wealth buried in the depths of the home. Working with an estate planning attorney who is well versed in hoarding cases can make estate planning that much…

Estate Planning for Vehicles

Estate Planning for Vehicles

Most of us own one or more cars. These are a blessing, helping us to move from one point to another effortlessly and to transport our items. But have you ever paused and wondered what will happen to your vehicle when you pass away? You need to understand that the vehicle is a huge part…

Estate Planning for Stocks and Bonds

Estate Planning for Stocks and Bonds

The past few years have seen more and more people investing their money in stock and bonds. With the advent of mutual funds, investing in stocks and bonds became easier. Additionally, brokers have made the process of trading in stocks easier, especially to the people that are busy. Due to this, many people have ended…

Estate Planning for Special Needs Children

Estate Planning for Special Needs Children

If you have a child with special needs, you are already on a unique journey. To ensure your child receives the best care and maximizes quality of life, you should sit down with an estate planning attorney. The process will be much easier and you can guarantee your child receives the best benefits possible! With…

Estate Planning Tips for Seniors

Estate Planning Tips for Seniors

Scenario At 78, tom was staying with his last born son, and as days went by, he became more and more concerned with who will take over his assets. He had a handwritten will well hidden in the attic, and no one knew of the ranch he had bought a few years ago. He was…

Estate Planning for Same-sex Couples

Estate Planning for Same-sex Couples

Surveys show that 10 per cent of LGBTQ couples are married to a same-sex partner. This is an increase of 3 per cent after the high court ruling. This shows that the world has changed rapidly, and as such, same-sex marriages have become common. As an LGBTQ couple, you need to handle so many issues,…