Category: Estate Planning
Knowing how to handle cryptocurrencies in estate planning can be a challenge. The very nature of how the increasingly popular cryptocurrencies are held by their owners creates issues in estate planning, according to the New Jersey Law Journal in “Estate Planning in the Age of Cryptocurrency.” Why is it a challenge? It is because proof […]
The use of of beneficiary designations is gaining in popularity. However, problems can develop. Beneficiary designation forms can be an easy way to quickly distribute many financial assets to heirs. However, complications may lurk behind the apparent simplicity, according to Wealth Management in “Designating a Beneficiary — Not as Easy as it Looks.” The problem is that […]
If it is not updated, your plan may well become a bad plan. It doesn’t matter if it is life or your business that changes when it comes to estate planning. When key parts of your life change, the estate plan needs a fresh look, according to the Herald News in “Revisiting Your Plan.” Like […]
You have your own ideas on what should happen if you are incapacitated. However, your loved ones could have other ideas. What happens if you do not have a Health Care Proxy? For example, if you are in an accident and decisions need to be made about your medical care, your family might not have a […]
Life can get in the way of an estate plan if changes are not taken into consideration. Basic and all too frequent problems can arise if people do not match the changes in their lives to their estate plans, according to the Wicked Local Dedham in “Five things that can derail your estate plan.” Typical […]
If business is in the estate plan, there is a better chance it will survive. If you have worked for years to build your business, it is likely to close, if a plan for it to continue is not included in your estate plan, according to the Savannah Morning News in “Thinking the unthinkable: Businesses […]
Staying out of a facility in the senior years needs careful consideration. More people can live at home rather than a facility for longer than ever before. However, seniors need to make the appropriate plans, according to a doctor in a recent article in The Roanoke Times “Staying at home as we age.” Before deciding to […]
Sharing ownership of your home with your child to avoid probate is still a bad idea. Joint tenancy of your home with your child quickly becomes a bad idea when the child has a creditor who can attach the home to pay off the child’s debts, according to the Napa Valley Register in “Can new […]
An estate sale is a good way to get rid of unwanted items. However, sometimes things end up badly. Colorado police filed a report about an estate sale that went badly but the case was dropped for lack of suspects, according to Fox News in “Colorado house ransacked after estate sale mix-up.” The incident, which turned […]
It has been nearly impossible for the family of the deceased to gain access to digital accounts in the past. However, there is some progress. In response to the problem of digital accounts of the deceased being accessed for an estate, some state legislators have slowly been passing new laws to permit access to digital accounts […]
