If you have a family member or loved one with special needs requiring lifelong care and support, you may want to consider establishing a supplemental needs trust. The beneficiary of a supplemental needs trust will allow you to provide your loved one with financial assistance without putting them at risk of losing critical public benefits.
Probate is the court-supervised legal process of settling a person’s estate after their death. This includes the appointment of someone, the executor, to pay all the debts of the estate and transfer the property of the deceased to his or her heirs. It can be a lengthy and expensive process.
As times change, society changes. But, it often takes the law a minute to catch up. The increase in our reliance on technology, from financial transactions to social media, to storing photos and other memories, presents some legal complications for the law. For instance, what happens to our digital assets after we pass away?
Estate planning is important on so many levels. It is far too easy to keep putting it off. It involves facing some difficult choices and confronting some potentially unpleasant situations such as death or incapacitation. Failure to properly plan for your future, your family’s future, and your estate’s future, however, can have dire consequences.