When most people think about their estate plan, they automatically turn to the will and trusts. While it is true that these are major components in the estate plan, there is a lot more to think about. One consideration is how your finances will be handled if you are unable to make these decisions on your own because you are incapacitated.
There are some common misconceptions about what happens when a person has a will and then passes away. One thing that happens in the movies is that there is likely a very dramatic reading of the will that starts a family brawl. While these events might happen in such a dramatic fashion, there are often some other points that occur.
When debt becomes too much to handle, it can feel like that is the only thing on your mind. You may constantly wonder when creditors will call, if you could ever pay off your debt or if you might lose your home or other property due to your outstanding liabilities. It might even cross your mind to file for bankruptcy.
A former teacher has left a wonderful gift to the Dumont Public Schools in New Jersey. The woman spent 45 years teaching children who had learning disabilities. She retired in 1990. However, she frequently visited the classrooms where she once taught.
If you are overwhelmed by debt and unsure of how you will ever emerge from your financial situation without support, you may find it beneficial to consider the benefits of filing for consumer bankruptcy. Bankruptcy is not the ideal choice in every situation, but it could be an appropriate way for you to pursue a better financial future.
Unequal inheritances are one of the main reasons for estate disputes between siblings. Inevitably, a lot of the children who got less -- even if their parents thought they had a good reason -- feel like they were treated unfairly.
Creating an estate plan requires you to think very carefully about what you want to happen to your assets. When you are setting up your estate plan, you must take the time to consider the implications of the decisions you are making. We can help you learn how your estate plan might impact those who are going to benefit from it.