Estate planning is more than a rich person's game. Clear wills and prearranged trusts can prevent needless arguments between inheritors with any size of bequest. However, rules and requirements for estate planning often get more complex when people are dealing with a...
Facing a possible disability is always a difficult process. It often feels like a betrayal that a long and successful life may be rewarded with a reduced ability to take care of one's self. A betrayal can become quite literal, however, if someone abuses a legal...
One thing that no one wants after they're gone is to have their beneficiaries -- typically children and/or grandchildren --- squabbling over who got what from the estate.Below are some red flags that your heirs might wind up haggling with one another.Sibling...
One of your main estate planning goals is to minimize your tax burden. As you age, you may also start to consider what legacy you will leave behind. One way to reduce your taxes and feel good about yourself at the same time is through charitable giving. Giving to...
People often use estate plans simply to designate how they are going to leave their assets to their children. Therefore, if you do not have any children, does that mean you do not need a plan? It doesn't, but many people make the mistake of assuming that it does. That...
You do a lot of financial planning in your life. You carefully consider every loan and every credit card. You put away money for retirement. You save up money for medical expenses. You consider every type of insurance you may need. However, you also avoid doing your...
You get a copy of your parents' will in the mail, after they pass away, and you simply do not like it. Some of the provisions do not sit well with you. Maybe it instructs you and your siblings to sell the house and divide the profits, when you wanted to keep the...
Connecticut law sets forth several requirements for a valid will. One of these states that the testator must be of sound mind. It can be difficult to arrive at a precise definition of the exact line that marks a lack of capacity.Descendants who are unhappy with a...
As you do your estate planning, it is important to create a health care directive and a power of attorney. This can give your family members some guidance so that they know what to do if you cannot make your own decisions. For instance, if you suffer a stroke and go...
As part of your estate planning, you may need to pick out a legal guardian. If you pass away while the children are still minors, you know that someone will be there to take care of them. This person may also help transfer your estate to the kids as you designate....