Probate is a term that many people have heard from time to time, but most individuals really do not know what it is all about. In this post, we will explain the basics you need to know to understand the process of estate planning. Court Proceeding You have definitely heard of criminal court, traffic court, family court, etc. Probate is another type of court that presides over matters that are of interest to estate planning and elder law attorneys. If you use a last will to state your final … [Read more...] about What Is Probate?
When you are a single parent, you must take action to put an estate plan in place. There is absolutely no way that you can responsibly go through life without making provisions for the well-being of your children if you were to pass away. This is true regardless of your age. Of course, we all expect to watch our children become adults in their own right, but there are no guarantees. Individuals pass away in accidents and due to sudden catastrophic health conditions each and every day. As sad … [Read more...] about Estate Planning Is a Must for Single Parents
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
They say that the only two certainties in life are death and taxes, and most people are fully prepared when April 15th rolls around. However, when it comes to the other one, statistics tell a surprising tale. The majority of American adults have no estate planning documents in place, and as you might imagine, a small percentage of younger people have executed estate plans. For a single young adult with no children and limited resources, this is somewhat understandable. However, someone in … [Read more...] about Estate Planning for Young Families
When you think about estate planning, the events that will take place after you pass away are naturally going to come to mind first. Without question, it is important to take the proper steps to make sure that your assets get into the hands of your loved ones in the best possible way. That being said, you should also consider end of life matters such as possible guardianship and prepare for them in advance. Incapacity Is Common This is a subject that no one is especially anxious to address, … [Read more...] about Guardianship Can Be Prevented
There may come a time when your elderly loved ones start showing signs of having diminished capacity. When that happens, you will need to establish a way to help them manage their affairs. Some of the most obvious signs of diminishing capacity include loss of memory and disorientation. If you have noticed these signs it may be time to take action and the first step is to create an incapacity plan. Unfortunately, this type of planning can be difficult for you and your family. Let our Florence … [Read more...] about Florence Elder Law Attorneys Can Help with the Difficult Issues
When you plan your estate, you arrange for the postmortem transfer of your monetary assets to your loved ones. This is certainly at the core of the endeavor, but you should also consider the period of time that may precede your death. Incapacity planning is important, because many people become unable to handle all of their own affairs late in their lives. If people close to you were to come to the conclusion that you could no longer make sound decisions, they could petition the court to … [Read more...] about What Are the Advantages and Disadvantages of an Adult Guardianship?
Your first thoughts when the you think about the subject of estate planning are probably going to revolve around the transfer of monetary assets. This is certainly part of the process, but you should also consider contingencies that you may face during your twilight years. With this in mind, let's look at guardianship and conservatorship proceedings in Charlotte, North Carolina. Court-Appointed Representatives A guardian or conservator is someone who is appointed by a court to act on behalf of … [Read more...] about Incapacity Planning in Charlotte: What Is a Guardianship or Conservatorship?
If you were to ask the typical couple about their priorities, they would almost certainly say that their children come first. In spite of this, a significant percentage of parents with minor children are going through life without an estate plan. Doing this is a calculated gamble. The profound thing about this type of gamble is that you are gambling with the well-being of your children. Do people usually pass away while their children are still minors? Obviously, the answer is no. However, … [Read more...] about Many Parents Put Minor Children at Risk
Governor Beshear has signed into law two statutes intended to provide additional protection to Kentucky's seniors. One law imposes added sanctions on individuals committing elder abuse. The other facilitates the recognition of guardianships created in other states. Here is a link to the Courier-Journal article on the signing: http://nky.cincinnati.com/article/AB/20110323/NEWS0103/103240318/Beshear-signs-2-elder-protection-bills?odyssey=tab|topnews|text|News … [Read more...] about New Protection for Elderly in Kentucky