You probably don't want to control every aspect of your heir's future -- but, at the same time, you may have some strong feelings about just handing someone a tremendous amount of wealth with no strings attached.
Part of effective end-of-life planning includes figuring out how your loved ones will have immediate access to cash right after you are gone -- including enough money to pay your funeral expenses.
You know, sooner or later, your day will come, and your heirs will be left trying to make sure that your final wishes are followed. As a result, you've had a will made and taken other preparations to make things easier.
There are times when you need to revoke the power of attorney you granted someone in the past.
In modern-day America, blended families are common. In fact, the U.S. Census Bureau reports that more than half of American families are the result of remarriages. There are a whopping 1,300 stepfamilies created each day in this country.
A medical power of attorney takes your healthcare decisions out of your own hands and gives them to someone else. You pick that person and name them in the document. Many people choose their adult children, for instance, or someone else they can trust to make decisions with their best interests in mind.
When you're contemplating end-of-life issues and your final wishes, it's important to watch out for some painfully common mistakes.
Once you set up a revocable living trust to hold your assets, you don't necessarily stop acquiring new assets. What happens if you die before some of those new assets have been added to the trust (or otherwise been assigned designated beneficiaries)?
A living will is a health care directive that allows you to name someone to make health care decisions on your behalf in case you are incapacitated. It’s not a topic that usually occurs to a young couple, especially when one of them is getting ready to ship overseas with the military.
Everybody struggles to find gifts during the holiday season that express their love for family and friends. While it might seem strange, an estate plan might be an absolutely wonderful gift for someone you love.