If you want to stay in control of your money and medical decisions until the end, here are the five most important estate-planning documents you need to have. If you aren't sure which estate planning tools you really need, at least start with the basics. A recentCNBC article, titled "Stay…
A revocable living trust is similar to a will in that it indicates how you would like your assets to be distributed after your death and can be amended anytime. While you should always have a will, a living trust—which is simply a trust set up during your lifetime as…
Talking to family members about estate planning and legacies can be difficult and even painful. Those discussions, however, will almost certainly be less painful in the long run than the stories children may make up after parents are gone about why they made the choices they did. Should you tell…
Dealing with aging parents is not only tough emotionally, but financially. As one's parents age, financial and health care discussions are essential for families to have in order to plan ahead for any care they may require. A recent Newsday article, titled"Money Fix: The cost of caregiving," tackled this tough…
Making decisions about the disposition of your assets can be an emotionally fraught and time-consuming process. Take small steps and seek expert guidance to realize your plans for the financial care of your families. Who gets what when it comes to your estate? The process of distributing your assets is…
Dealing with an ill parent or their estate once they pass can be difficult, and having support through your siblings is important. However, sibling feuds can get in the way and cause conflicts during this time. Having your parents’ estate planning documents in order not only ensures their health care, finance and…
Money security, in most cases, is a choice. It requires the right mindset and consistent actions. Like learning a craft or skill, time, patience and devout determination is required, most especially if you are starting from a difficult position. How do you deal with money? What is your "mindset" when…
Family law practitioner Andy Low Hann Yong also noted a "significant increase" in inquiries for will writing service of late. He said this could be due to rising public awareness on the importance of having a will, or the occurrence of unfortunate incidents such as Malaysia Airlines Flight MH370 and…
One of the colossal failures in estate planning I witness when people make their wills is not coordinating the will with the overall beneficiary designations they have chosen. Does your will surpass your beneficiary designations on financial accounts? A recent Wall Street Journal article, titled "How People Undermine Their Own…
They can be incredibly useful tools, and thanks to the publicity, more people may consider using them, but many people misunderstand how trusts work. Let's take a look at — and dispel — three common myths about them. Are trusts too much work? Are they only for the rich and…