The last thing many people would equate to intimacy is estate planning. Just ask anyone who’s ever had to face reality after a terminal illness or devastating accident, they will tell you that things become very personal faster than you can say power of attorney. This week, we shed the logistics and focus on the ties that bind and the intimacy of estate planning. Facing Mortality Most of us realized long before we began preparing our will that we wouldn’t live forever. Whether that brutal fact … [Read more...]
Speaking of End of Life Choices
It is incredibly difficult to raise the topic of end of life considerations. At some point, someone will have to broach the subject, even if Mom or Dad have already made all of the necessary arrangements. It’s far different than retirement topics; these conversations have to do with funeral and burial arrangements, do not resuscitate orders, powers of attorney for medical decisions – the really tough topics. If you think about it and the mindset we’re in when we plan for retirement, it’s one … [Read more...]
The Role of a Will in Your Estate Planning Efforts
Most estate planning lawyers will tell you the one opening line they hear most often is, “I'm not even sure I need to have a will.” To that end, we explain that a will covers far more than one's finances. There's a lot at stake and ensuring your wishes are met and your loved ones are seen to in the event of your death is what a will is really about. A properly defined estate plan will legally protect and then distribute your property based on your wishes. If for no other reason, you should … [Read more...]
What Not to Include in Your Will
Creating a Will is an important process. If you’re like most people, you don’t realize that there are certain things that you should not include in your Will. Some things you can’t include because it’s illegal; others, it’s simply not practical. Here’s a guide identifying what you can’t include when creating a Will. 1. Any property not titled in your individual name. 2. Funeral instructions 3. Federal estate tax planning 4. Certain conditions for receiving a gift 5. Any provisions that … [Read more...]
Young Adults And Estate Planning
Estate planning involves more than just the distribution of financial assets, and a lot of young people may not take that into consideration. The topic of health care has been in the news a lot during the last few years, and there was considerable debate recently concerning what life-extending procedures may or may not be allowed under proposed legislation. The fact is that each one of us has the ability to state our personal preferences concerning what medical procedures we would approve and of … [Read more...]
Future Intentions Impact Ongoing Decisions
Anyone who has been successful knows the importance of long term planning, and this process begins with identifying what you would like to accomplish in the future. Once you set those goals you work every day toward achieving them, and this goal setting has a very profound impact on the decisions that you make along the way. For instance, if you decide that you would like to retire early you may well make different choices throughout your life then you would if your plan was to retire at the … [Read more...]
