On their own, divorces and estate planning efforts are uncomfortable; when they’re combined, it takes on an entirely new meaning. Both of these events symbolize endings, after all. While estate planning helps prepare you and your family for the ultimate end, divorces were never supposed to be part of a family dynamic. No one marries with the goal of divorcing. Toss money and other assets into the mix, and well, it can quickly lead to the worst in human nature: pride, anger, grief. When Estate … [Read more...] about Estate Planning and Divorce
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...] about Speaking of End of Life Choices
The National Institute on Aging defines Alzheimer’s disease as, “ an irreversible, progressive brain disease that slowly destroys memory and thinking skills, and eventually even the ability to carry out the simplest tasks.”. Experts say as many as 5.1 million Americans have some degree of this disease. It’s the most common cause of dementia among older people; dementia is the loss of cognitive functioning—thinking, remembering, and reasoning. There are varying degrees of dementia, like … [Read more...] about Alzheimer’s Strikes: Now What?
Living trusts are powerful estate planning tools that can protect you if you become incapacitated. When establishing any trust, the services of a qualified attorney are needed. Certified public accountants are familiar with the operation of the trust, of course, but only an attorney can properly set up a trust agreement conforming to your state's standards. Trusts by definition are established when a settlor provides assets to a trustee for the benefit of others. A husband and wife can … [Read more...] about Living Trusts Keep You in Control