See where boating accidents, law enforcement intervention, firearms and other unexpected events caused deaths at abnormally high rates. Lesson? Get your estate planning in order; you never know when your time will come to an end.
Death can be unexpected and some Houston families can be caught unprepared following a loved one’s sudden death.
A recent issue of Time magazine discussed cause of death statistics in an article titled, "The Surprising Ways Americans Die in all 50 States."
Fran had just learned that her deceased husband Ed’s life insurance proceeds were going to be paid to his ex-wife Sally. As Fran found out from her lawyer, beneficiary designations can be the trump card of estate planning.
You heard that right. The ex-wife Sally will get the life insurance proceeds. It doesn’t matter what the will says in these circumstances. With certain financial instruments the beneficiary designations have authority to control the asset disposition regardless of other provisions.
A recent WMUR article, titled “Money Matters: The trump card of estate planning,”sets out a handful of good pointers to remember.
The bill relaxes a rule that makes getting specialized care from local doctors difficult for some veterans in rural areas.
The Associated Press investigated this new legislation in a recent article titled “Senate tweaks health law to boost specialized care.”
At some point, everyone needs to consider estate planning. It’s time to create an up-to-date estate plan when you experience one of these life events.
Think estate planning isn’t for you? Think again! And it’s not just a one-time deal; changes in your life should result in changes to your plan, so be ready to make some updates.
The Richland Source notes in a recent article, titled “Do you need an estate plan?”, that it’s time to create an up-to-date estate plan when you have one of these life events:
Don’t wait until the very last minute to make sure you are prepared, says Michael H. Milarski, a partner and senior financial advisor with Signature Financial Planning.
Have you checked your list and you’re sure you’re ready to retire? You may have a few items to address before your golden years can begin.
A recent Fox Business article, titled “5 Things to Do Now if You’re Near Retirement,”says that these are the five important things to work on in the five years before you retire.
Thus far, many people have attempted to establish a link – none have been successful. If no one claims the inheritance in 30 years, the money goes to the British crown.
No will or other estate planning documents could be found for Kathleen Hilda Ryan, who passed away in Greenwhich, United Kingdom in 2013 with an estate valued at $788,000. She had inherited the bulk of it from her sister, Joan.
Kathleen had no children of her own and no living siblings.
So how do you know if your estate plan is out-of-date? If your will or trust predates these four key “freshness dates,” it may be time to visit your attorney for a review.
Estate plans are not meant to be a one-time deal. If life changes – or the law changes – you need to update your plan accordingly.
The website nextavenue.org recently posted a very informative article, titled “Why Your Will May Be Out of Date,” which states that although your estate planning documents are still valid, they may no longer work the way you originally thought they would.
“‘Do you have any important business online?’ That is now just as important of a conversation as asking somebody their health care preferences in a life-threatening situation.”
Leaving your digital accounts out of your Houston estate plan can prove to be a big, bad mistake.
Most digital accounts require passwords for access, even accounts we would not have considered as important even a decade ago.
At Hospice of Anchorage, end of life planning is what clinical director Alison O'Donnell encourages. Having advanced directives, or a living will, and a power of attorney in place is a gift to family, she said.
Near retirees all over the country are starting to think about downsizing for retirement. Consignment shop owner Christy Carter knows this all too well, as she helps those downsizing sell their belongings. Ms. Carter said in a KTUU.com article, “End of life planning a 'gift for family,' experts say,”that she also receives a lot of merchandise from families who are cleaning up the estate of a loved one who has recently passed away. Most of the furniture she sells are from estates.
Many who have already lost a loved one don't want to deal with all of the details because they're going through their grief process emotionally. However, end of life planning is what the clinical director of an Anchorage area hospice recommends. Having advanced directives or a living will, and a power of attorney in place is a gift to family, she said.
Make it a point to learn about the factors and areas that must be addressed in estate planning in order to maximize, protect and preserve your legacy the absolute best way.
You don’t have to be ultra-wealthy to have an estate plan.
The Kokomo Perspective’s May 16 article, “Don’t Forget About This,” reminds us that the ultimate goal of estate planning is to pass on as much of your unused assets with the least amount of taxes, expenses, fees and time—and do it as privately as possible. You want to protect and preserve your legacy for your family, loved ones, and charitable causes.
