Your estate plan needs to address a wide range of issues related to your personal assets, long-term care, and the wellbeing of the loved ones you leave behind.
Long-term care is an essential part of estate planning for those who are no longer able to care for themselves or suffer from serious health issues.
Financial and estate planning helps older adults maintain their quality of life and meet their needs as they age. But many people overlook the essentials of planning their financial future, resulting in issues that impact them and their families.
Long-term care is an essential part of estate planning for those who are no longer able to care for themselves or suffer from serious health issues. Long-term care can be provided in many ways, and there are numerous options available when planning for the future of you and your loved ones.
Power of attorney (POA) is an estate planning instrument that authorizes another individual to act on your behalf in legal, personal, and professional affairs.
One of the most remarkable changes from the electronic age has been the introduction of online accounts and cloud storage. Whether or not you intentionally store your photos, stories, blog posts, and email correspondence on a cloud-based storage platform, you're probably using the cloud. Much of what you write, photograph and value is probably online on a social media platform like Facebook or Instagram.
As you age, you may soon realize that your estate plan is no longer exactly what you want it to be.
The American College of Financial Services recently had survey participants aged 60 to 75 take a quiz to determine their level of financial literacy, especially as it relates to retirement. The unsettling news is that only 35 percent of men passed the quiz. The shocking news is that only 18 percent of women did.
The best estate plans are comprehensive and plan for a wide range of potential life circumstances. Ideally, you will live a full and healthy life for many years after the creation of your last will and estate plan. However, life can sometimes take surprising courses, and your estate plan should take common life issues into consideration.
Second marriages result in a unique set of needs when planning for your estate's future. In most cases, two families are brought together, which makes the process of allocating and distributing assets a bit more complex. Planning for the financial wellbeing of your entire family requires you to have the right tools and resources to protect your assets, minimize estate planning costs, and ensure that all of your wishes are carried out. Establishing your estate planning goals, communicating them clearly, and using the right planning strategies makes it easy to accomplish all of these objectives.