When newlyweds embark on building their lives together, financial and asset planning often involves joint ownership. While this may seem like a convenient approach, it can lead to unintended complications, especially in the context of estate planning. Here’s why joint ownership should Continue reading
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Estate Planning Basics for Newlyweds: Building a Secure Future Together
Marriage marks the beginning of an exciting new chapter, but it also brings shared responsibilities, including planning for the future. Estate planning is a key step in protecting your partner and building a secure foundation for your life together. Here are some essential Continue reading
HIPAA: An Overview for Young Adults
When you turn 18, your legal independence includes control over your medical information, thanks to the Health Insurance Portability and Accountability Act (HIPAA). While HIPAA is vital for protecting your privacy, it also introduces challenges when others, like parents or loved ones, Continue reading
Wills, Trusts & Dying Intestate: How They Differ and Why It Matters
Planning your estate is one of the most significant steps you can take to protect your loved ones. A well-thought-out plan ensures your wishes are honored and avoids unnecessary stress. Here’s a deeper look into the key differences between wills, trusts, and dying intestate.
Wills: Continue reading
Four Steps to Stop Mail Addressed to a Deceased Person
When a loved one passes away, managing their affairs can be overwhelming, and receiving mail in their name can be a painful reminder. Here’s how you can take control of the situation:
1. Notify the Post Office
Start by contacting your local post office to request a change of address Continue reading
Be Careful If Relying on Life Insurance to Provide for Loved Ones
Life insurance is a powerful tool in estate planning, offering financial security for your loved ones after you’re gone. However, it’s important to understand its limitations and ensure it aligns with your comprehensive estate plan. Here are key considerations:
1. Beneficiary Designations
Have You Checked Your Beneficiary Designations Lately?
When it comes to estate planning, many people focus on creating a will or trust, but they often overlook one critical element: beneficiary designations. These designations—found on retirement accounts, life insurance policies, and other financial instruments—are powerful. They determine Continue reading
Creating an Estate Plan with an Only Child: Key Considerations
When planning your estate for an only child, the process involves unique opportunities and responsibilities. While having a single heir might simplify the distribution of assets, thoughtful planning ensures your wishes are respected and your child is protected. Here are key steps Continue reading
Enjoyable Things a Third-Party Special Needs Trust Can Be Used For
A Third-Party Special Needs Trust (SNT) can be a valuable tool for enhancing the quality of life for a loved one with special needs without jeopardizing their eligibility for government benefits. Here’s how it can make life a little brighter:
- Entertainment and Hobbies: SNT funds Continue reading
How to Pick a Trustee, Executor, and Agent Under a Power of Attorney
Choosing the right people to manage your estate, handle your affairs, or carry out your wishes is critical to the success of your estate plan. These individuals have distinct roles and should be selected carefully to align with your values, financial goals, and family dynamics.