Aging is a universal experience, but the considerations can differ significantly depending on one's personal circumstances. For single seniors – whether by choice, divorce, or the loss of a partner – estate planning comes with its own set of unique challenges and opportunities. If you find yourself in this demographic, here's what you should focus on when planning your estate. Focused Approach Being single in your later years can come with increased independence but also adds a layer of … [Read more...] about Tackling Unique Estate Planning Challenges for Single Seniors
Wills and Trusts
Estate Planning Tips to Help You Protect Your Family
When you do not know where to begin, estate planning can seem like an intimidating subject. This is understandable because you are stepping into the great unknown as a layperson with a limited understanding of the process. In this post, we will provide some tips that will help you understand how to take the right steps to protect your loved ones. Don’t fall into a cycle of procrastination. You may put estate planning on the back burner because you simply do not know where to begin, and you … [Read more...] about Estate Planning Tips to Help You Protect Your Family
Debunking 5 Common Estate Planning Myths: Protecting Your Future with Facts
Estate planning is a crucial step in securing your future and protecting your loved ones. However, misconceptions and myths often cloud the understanding of this important process. In this blog post, we will debunk five common estate planning myths, backed by research and statistics. By dispelling these misconceptions, we aim to empower you to make informed decisions and create a comprehensive estate plan that aligns with your goals and safeguards your legacy. Myth #1 - "Estate Planning is … [Read more...] about Debunking 5 Common Estate Planning Myths: Protecting Your Future with Facts
Estate Planning for the LGBTQ+ Community
As we recently celebrated Pride Month, it is essential to recognize the unique considerations that members of the LGBTQ+ community face when it comes to estate planning. Estate planning offers a way to protect your assets, honor your wishes, and ensure the well-being of your loved ones. In this entry, we will explore the importance of estate planning for the LGBTQ+ community and discuss key aspects to consider when creating an inclusive and comprehensive estate plan. Legal Protections and … [Read more...] about Estate Planning for the LGBTQ+ Community
Generation Y Members Need Estate Plans
The millennials, or “Generation Y,” are now between 25 and 40 years of age. According to a survey that was conducted by Caring.com, less than 30 percent of Americans in this age group have estate plans in place. Obviously, people do not usually pass away when they are in their 20s, 30s, or 40s, but it does happen each and every day. If you are in this group and you want to take a gamble as a single person, you may not be risking much, but the situation is very different for people with … [Read more...] about Generation Y Members Need Estate Plans
These Celebrity Estate Planning Mistakes Can Be Instructive
Over the years, celebrities have made estate planning mistakes that have yielded negative consequences. These scenarios can be instructive for others, because you see a practical example of the way things can go awry if you don’t take the right steps in advance. Let’s look at three of these situations that provide valuable insight. Former Football Star Steve McNair Steve McNair was one of the best quarterbacks in the NFL in his prime, and his life was snuffed out in violent fashion. In 2009, … [Read more...] about These Celebrity Estate Planning Mistakes Can Be Instructive
Top 5 Reasons for Estate Planning Unpreparedness
Two out of three American adults are unprepared from an estate planning perspective, and this is not confined to younger people. Less than half of individuals that are 55 years of age and older have estate plans in place. Why do they ignore an event that is one of the certainties of life? In this post, we will look at five reasons why people fail to take action. Simple Procrastination The first group is comprised of individuals that are fully aware of the fact that estate planning is … [Read more...] about Top 5 Reasons for Estate Planning Unpreparedness
Estate Planning: Keep It Simple
The vast majority of American adults do not have estate plans in place, even though most people that are surveyed feel that inheritance planning is important. Why do they fail to take action if they know that this is a responsibility that should be addressed? There are a variety of different answers to this question, and one of them is the fear of the unknown. They view estate planning as a matter that is complicated if you look beyond a simple fill-in-the-blanks will that you buy … [Read more...] about Estate Planning: Keep It Simple
Impact of Pandemic Is Eye Opening From an Estate Planning Perspective
Though COVID is an ongoing threat for the vulnerable, the worst of the pandemic is behind us. At the same time, there were some valuable lessons learned. From an estate planning perspective, the tenuous nature of life as we know it was clearly demonstrated. In fact, according to the Centers for Disease Control and Prevention, average life expectancies have been measurably impacted by the pandemic. Estate Planning Preparedness In spite of the fact that passing away is one of the two certainties … [Read more...] about Impact of Pandemic Is Eye Opening From an Estate Planning Perspective
Advance Property Liquidation Can Streamline the Estate Administration Process
Far too many people assume that estate planning is an exercise in drawing up a will or trust. They think that the rest will fall into place, and they do not consider any of the finer details. You can approach the matter this way if you choose to do so, but you may want to take a step back and see the big picture. When you are giving a loved one a heartfelt gift, you want it to be a completely enjoyable experience for them. On the other side of the coin, you are giving the gift as an … [Read more...] about Advance Property Liquidation Can Streamline the Estate Administration Process
