When you spend a lot of time with your older parents who are creating their will, you may want to protect yourself from accusations of undue influence. This is a term for when beneficiaries or other people think you are pressuring your parents to increase your...
Protecting Your Wealth One Piece At A Time
Estate Planning
Will you need to update your estate plan after creating it?
Establishing an estate plan is a significant step toward taking care of your loved ones and having your wishes respected after your death. However, creating an estate plan is not a one-time event. Life's unpredictability means circumstances can change over time, and...
Going over the Medicaid Estate Recovery program
When creating or modifying an estate plan, it is crucial to have a clear understanding of your unique circumstances and how they could affect your assets. For example, if you receive certain services from Medicaid, the program could seek repayment following your...
Estate plans: Not just for older individuals
Many people mistakenly believe that estate planning is only necessary for older individuals. However, estate planning plays a crucial role in the lives of individuals at all ages and stages of life, regardless of wealth. An estate plan serves as a roadmap for asset...
Ensure proper care for special needs children in your estate plan
When doing estate planning, it is crucial to consider the long-term care and financial security of your loved ones, especially if you have special needs children. Planning ahead can provide peace of mind and ensure that your children with special needs continue to...
How can you figure out your legacy?
Estate planning attorneys often work with clients who want to leave behind a legacy. Legacy, though, is a nebulous concept that can be difficult to contextualize. Indeed, what is important for one person is unlikely to matter as much to another. Having a comprehensive...
Can your estate plan name a guardian for your children?
If you are a parent, your top priority is the safety and well-being of your kids. Because you have a spouse, your kids have a backup parent in the event that either you or your spouse dies. Sometimes, though, both parents die simultaneously. That is exactly what...
Should you lock your will in a safe deposit box?
If you have valuables, such as jewelry or rare coins, it probably makes sense to lock them in a safe somewhere inside your home. For added security, you even might want to invest in a safe deposit box at your local bank. These boxes can be somewhat expensive, though....
Avoid costly mistakes when you update your estate plan correctly
Even when you finalize your estate plan, you should actively maintain and update it as needed. Overlooking important steps could cost you a lot of money and jeopardize your plan's value over time. Updating your plan the right way enables you to maintain its effect...
How does a fiduciary oversee a business as part of a trust?
Business owners in Nevada who want to make sure their life’s work continues after they are gone need to think about how to address this objective in estate planning. A trust can work well under these circumstances, but it is imperative to know how to ensure the...
David A. Straus is the author or co-author of many publications.
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