According to an annual survey conducted by the website Caring.com, the pandemic brought home the message that people need to plan for any contingency in their lives. Nothing is guaranteed, so everyone needs to put in place a plan for the future of their loved ones and for themselves. This is what is known as estate planning.
Many people’s conception of wills and how they are administered derives from TV dramas where someone in a musty room reads the will and gasps arise from those who feel left out or cheated. As much as TV dramas are entertaining, they’re not really what happens when a person dies with or without a will.
Estate planning involves not only making arrangements to care for your loved ones, but also expressing your wishes in case of your own incapacitation or death. You can create an advance health care directive to express your desires when facing end-of-life issues.
According to a 2018 study by EstateExec.com, on average, settling an estate takes the executor about 16 months or approximately 570 hours of effort. Being appointed as the executor of an estate is a great honor that comes with huge responsibilities.
According to a new Caring.com survey, only 32.9% of U.S. adults currently have estate planning documents such as a trust or will. Settling the final affairs of a deceased person and distributing their assets to inheritors without a will, trust, or estate plan can bring about several challenges.
When it comes to the process of probate, many people are unfamiliar with what it is and how it works. Whether you are planning your estate or have recently lost a loved one and dealing with the probate process, having an experienced attorney guiding you through the process and educating you on important probate terms can help.
Estate planning is not just about setting up wills and trusts to care for your loved ones when you’re gone. It’s also about preparing for the unexpected surprises in your own life, especially when it comes to your own health.
Many people make the mistake of letting their estate plan sit. Yet, life happens, and you may need to make changes to it that reflect your current circumstances. By knowing when and why you must update your estate plan, you can manage it from a position of strength....
Estate planning helps Californians protect their most valued assets, their family and even their pets. For many people, pets are as special as anyone else in their family. If you’re worried about what will happen to your pet if you unexpectedly pass away, become...
The news often reports about persons in the public eye with fortune and fame that die suddenly without a will or with a terribly outdated estate plan. Because the celebrity with high net worth failed to address who will inherit their assets with a will or trust that...
