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A will has many uses, including establishing guardians for children after a parent dies and naming beneficiaries to an estate. Wills are often the only document people draft when they begin estate planning. After all, a will can accomplish many of people's primary...
Most older adults automatically qualify for Medicare benefits based on their employment history. Even those who don't work but can receive Medicare if their spouses had qualifying employment. Retired adults can rely on Medicare to cover basic care needs after they...
When someone passes away, there is a good chance their estate will still owe certain taxes. Even if inheritance taxes do not apply, the deceased may still owe property taxes for the year on any real estate they own. If they were a business owner, that business might...
With a power of attorney, you can give someone else the legal ability to make decisions for you. For example, you are generally the only person who can make medical decisions, such as deciding what type of medical care you want or what type of treatment you will...
Estate plans can include several different powerful legal instruments. It can be very confusing to learn about the estate planning process, in part because there is so much jargon and so many different documents that people can integrate into their plans. Some of...
The simplest way to leave resources for specific parties is to name them as beneficiaries in a will. Many people establishing estate plans only draft wills. They can designate beneficiaries and specify what assets those beneficiaries should inherit. They can name a...
When someone passes away, the family they leave behind would often have to navigate the legalities of distributing their estate, all while dealing with grief. If you and your family are in this situation, one of the most crucial steps is determining whether your loved...
The number of adults choosing not to have children has steadily increased over recent years. In 2023, 47% of Americans under 50 don’t have children, nor do they intend to. Many childless adults may think there is no reason to create an estate plan. If they’re married,...
Estate planning is essential in ensuring your loved ones are provided for when you pass away, and someone will handle your financial affairs if you are incapacitated. It’s easy to make mistakes when creating your estate plan, especially if you’re unfamiliar with the...