Once you have taken the very important step of getting estate planning documents (your will, healthcare documents, powers of attorney, any trusts, living trusts etc.) you just have to do one more thing…. Keep Them Up-to-Date. We cannot stress enough how important it is for you to have estate planning documents to protect yourself and [...]
A guardianship is a legal tool that the courts use to protect people who have become incapacitated (for example, those in a coma) or those who have mental or physical disabilities that render them unable to take care of themselves. A guardianship allows one person (or an entity) to make decisions for another person (the [...]
When it comes to estate planning, couples who live together but are not married (“cohabiting couples”) face some unique planning challenges. Living Together, Torn Apart Without an Estate Plan. Unlike married couples, cohabiting partners do not have the legal right to make the necessary health and financial decisions for each other in the event one [...]
Trapeze artists have a safety net. So do wills. In estate planning, the safety net we use in a will is the “residuary clause.” What is a Residuary Clause? In your Will, you make specific gifts or bequests of your property to individuals (family members and friends). You will usually make specific bequests like: “I [...]
One of the things you must consider when you are making your estate plan is how you want to leave your property to your heirs. For example, if you have several children and you want to leave them your house, you must decide whether you want to leave it to just one of them or [...]
Prenuptial agreements (also called antenuptial agreements or “prenups”) don’t sound very romantic. But they can make a lot of sense to have, especially for people who may have been married before. What is a Prenup? Prenuptial agreements are contracts made between two people before they get married (pre (before)-the-nuptials). These are private contracts made between [...]
If you have ever thought about writing your own will either by hand (a “holographic will”) or by using prefabricated forms or online templates, think again. Your will is one of the most important documents you will ever execute in your life. What are the chances you will mess it up if you write it [...]
You may have heard of Wills, you may even know that you need one, but do you know what makes a Will valid? Why Valid Wills Are Important. Your Last Will and Testament (“Will”) determines how your property is divided when you die and who gets what. Having a Will is one of the most [...]
After the rice is thrown and the champagne loses its fizz, it is time to start your married life. Which means, it is time to get an estate plan! Estate Planning for Married Couples. When it comes to estate planning, no two family situations are the same. This might be a first marriage for some, [...]
Many people believe that they do not have an “estate” because they do not have a lot of money or maybe even because they do not have children. What most people do not realize is everyone (every adult, that is) already has an “estate” for estate planning purposes. But not everyone has a plan for [...]
