I Created An Estate Plan When My Spouse And I Had Kids, Why Should I Update It Now? (Part 1)
Perhaps you met with a lawyer and created an estate plan when you were younger, soon after getting married and having children. Now your kids have grown into adults and may be married and/or have children of their own. No matter your specific life situation, there are a number of life events and changes that …
Estate Planning Pitfall: You Haven’t Made Funeral Arrangements
No one wants to think about their own death, and planning for one’s own funeral isn’t easy. Immediately following a loved one’s death, family members are already very distressed. It is hard enough to follow through with funeral arrangements that have been outlined in one’s will or other estate planning document. It is far more …
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How to factor your health into your financial planning, according to a doctor-turned-advisor
When it comes to the part of your financial plan related to health, things such as insurance premiums and copays might be what come to mind. These expenses are important. However, according to certified financial planner and physician Carolyn McClanahan, founder of Life Planning Partners in Jacksonville, Florida, your health should influence many other parts …
Who Should You Name as Your Children’s Guardian?
As a parent with young children, you’ve put a lot of thought into the best way to raise your kids, including things such as the school they attend and the beliefs and values they are taught. But have you considered what would happen if you (and your spouse, if you are married) pass away suddenly? …
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Estate planning tips to help ensure your will and assets are found (Part 2)
In last week’s post, I shared tips for making sure your loved ones will be able to find your estate planning documents when these documents are needed. Issues can also arise when it comes to finding the assets of someone who has passed away. It is common for one spouse to handle finances while the …
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Estate planning tips to help ensure your will and assets are found (Part 1)
The time and money you spend creating estate planning documents might all be in vain if your loved ones cannot find your documents or assets after you pass away. Although you want to be careful when it comes to sharing information about your will and assets to avoid exposing yourself to risks, you also want …
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Estate Planning Pitfall: Your Estate is Tied Too Closely to Specific Gifts
Your will provides for the disposition of your assets upon your death and is designed to tie up loose ends in your estate. You may wish to include specific bequests to beneficiaries in your will, such as collectibles, jewelry, or art that you may wish to leave for your child. However, it is important to …
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