A lot of people think that estate planning is all about the creation of a will or trust to facilitate asset transfers when the time comes. This is definitely a large part of the equation, but a well-constructed estate plan will also address end-of-life issues. People often do not pass away after being perfectly capable of communicating sound decisions up until the end. You should certainly account for this when you are developing your estate plan. Advance directives for health care will be … [Read more...] about The Importance of Advance Directives for Health Care
A brand-new 2019 study has been conducted by Caring.com to evaluate the estate planning preparedness of American adults. One of the most compelling statistics that they share on their site demonstrates the head scratching nature of the phenomenon. Around 76% of people surveyed say that estate planning is important, but only 40% of the people that believe this actually have estate plans in place. In all, 57% of adults in the United States have not have executed a last will, a living trust, or … [Read more...] about Estate Planning for Young Adults
When the subject of estate planning arises, most people just think about the financial component. Indeed, it is important to clarify your final wishes for your assets and execute the appropriate documents to direct the transfer of assets to your loved ones after your death. But a estate plan must also consider how your family will care for you if you are incapacitated and unable to communication. A critical part of this planning is a living will. If you were following the news cycle during … [Read more...] about Have You Executed A Living Will?
If you have not done so already you may want to discuss incapacity planning with an estate planning lawyer as soon as possible. Incapacity planning is important for people of all ages, and while it includes both property and health care issues, the document most people are familiar with is a living will. To see why this is important, look no further than the case of Terri Schiavo. This young woman fell into a vegetative state after suffering full cardiac arrest while she was in her 20s. She … [Read more...] about Make Sure Health Care Proxy Can Access Health Care Information
Many people think of estate planning as a purely financial endeavor. Of course, readying your assets for transfer to your loved ones after your death is a large part of the exercise. But most people are not in perfect health during the days, months, and often years before their deaths. Oftentimes individuals go through a period of incapacity during which they're unable to make decisions for themselves. Of course, this is common among people who reach an advanced age, but sometimes younger … [Read more...] about A Look At Advance Directives