Going over the estate plan for a loved one is sometimes a challenging event. This is especially true when the plan is completely different from what you think it should be or from what you discussed with the person before they passed away. We understand that the shock of learning this might be more than what you can handle while you are already dealing with the death.
While many people think that estate planning is a chore, there are some amazing benefits to getting your affairs in order now. You can't focus on only getting the will written out. There are several other things that you need to include in your estate plan.
Estate planning allows you to cover many bases relating to issues that could arise near the end of your life or after your death. Many individuals may think that an estate plan only provides information about how to distribute assets after a person's passing, but that is far from the reality of this process. As you work to create a comprehensive estate plan, you may wish to consider how it could apply to your health care near the end of your life.
One of the more difficult dilemmas for parents when making out their wills is whether or not to leave the same amount of cash and assets to each child. In a perfect world, the answer would be unequivocally, yes.
There's an old saying that the only two things you can be sure of are death and taxes.
Almost everyone can understand what it's like to experience financial trouble from time to time, but you may find that your financial woes extend far beyond what you can ever manage on your own. Like other New Jersey consumers, you may not be able to manage your debt and catch up on your payments.
If you need a good reason to update your will or other estate planning documents, look no further than the battle currently embroiling a late businessman's wife and his children from our neighboring Maryland. The businessman may have left substantial assets when he passed away some months ago, but his widowed wife's portrayal of his estate does not seem to match the picture that his children presented of his finances after his death.