Personal finance articles related to estate planning, such as creating a will, living trust, power of attorney, etc.
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Estate planning is one of those things everyone knows they should do. Still, most don’t do it. According to a recent Caring.com survey, only one in three Americans has a will or trust. And these statistics make sense when you see why people don’t do…
If you don’t have a will, or it’s been some time since the drafting of yours, you’re probably wondering what estate planning costs today. Looking for legal help isn’t like shopping for new shoes; it’s not easy to compare legal fees online. Estate planning doesn’t…
We all make mistakes, some big, some small. The good news is we can learn and recover from most if not all of them before it’s too late. When it comes to family, finances, and medical care in terms of estate planning, people make several…
As the weather turns colder and the daylight becomes shorter, you may be busy planning for the holiday season. But something else worth focusing your attention on during this season is your finances. Like your physical health, your financial health needs an annual check-up. Before…
This post is sponsored by Haven Life. There’s a good chance you have family or friends who have lived into their 90’s. Or maybe even a few to age 100 or beyond! The Social Security Administration reports approximately one in three 65-year olds today will…
Of all the decisions you make in life, estate planning is one of the most important. An estate plan is essential for protecting your family after you’re gone. When done correctly, an estate plan will ensure your final wishes are carried out while minimizing taxes…
What happens to your assets when you die? Unfortunately, there isn’t a cut and dry answer to that question. Some of your things will go through probate, while others won’t need to. It depends on the type of property you have and where you live….
We know the thought of creating an estate plan might make your head spin. But failing to do so can cause way more mind-numbing, stressful, and time-consuming efforts later. Creating power of attorney (POA) documents as part of an estate plan assigns an individual the…
Do you dream about being rich or wealthy? Most people consider those terms as the same thing. But looking at the differences between being rich and wealthy, and considering what they mean on a deep level can impact your finances significantly. In simple terms, being…
You’ve heard the saying, “hope for the best but prepare for the worst,” and maybe you’ve taken it to heart. You’re getting ready to buy life insurance and researching disability insurance plans. Perhaps you’ve even written down some information on ‘in case of emergency documents’….
A wedding is an exciting time. There are beautiful flowers, dresses, and celebrations. The couple vows a lifetime of love, respect, and commitment to one another. When they enter into their life together, they’re happy and content, and they never expect that to change. But…
Imagine you’ve become incapacitated. You may be unconscious, or unable to speak or reason. How do you want your medical treatment handled? If you’ve never documented your wishes or at least discussed them with your spouse, parents, or adult children, medical personnel will make those…
Managing your finances is a complicated endeavor with many independently moving parts. You may have children to support, day to day bills to cover, debts to pay off, and retirement to plan. Throwing even more into the mix, you may come to a point where…
When hearing the mention of the word prenup, most people express serious reservations about getting one. Common arguments against them include: “A prenup is for people who can’t, or won’t commit.” “It’s like rooting against your marriage.” [playht_player width=”100%” height=”175″ voice=”en-US_LisaV3Voice”] While it’s true not…
If you’ve not yet created a will, it’s probably because you aren’t wanting to think about death. Or perhaps you’re procrastinating or don’t think you need one. Unless you have no assets, possessions, or children, or you don’t care what happens with everything you own…
You work hard to ensure you’re covering all your financial bases. Homeowner insurance – check. Car insurance – check. Health insurance – check. And now someone is telling you your umbrella has to be insured? Despite the odd name, umbrella insurance covers more than the…
While it’s sometimes thought that trusts are only for the wealthy, a living trust can be useful and serve as a practical tool for the rest of us, too. But what is a living trust? And how do you know if you need a living…
We get it. Life insurance is not a fun topic. The thought of it might make your eyelids heavy or evoke a bit of panic, but it’s a necessary component of a fiscally sound household. Think you don’t need it because you’re young and single?…
Power of attorney documents (POAs) are legal papers in which an individual (the principal) designates another person (the agent or attorney-in-fact) to act on their behalf and make decisions on certain matters (a specific financial transaction for example) or on all matters. POAs may be…