While more than half of Americans believe estate planning is essential, a mere 33% actually have a living trust or will. And one out of three respondents who don’t have a will reason that they don’t think they have sufficient assets to warrant estate planning.
When you’re in the midst of a divorce, you’re probably not thinking about estate planning or your will. However, if you’re divorcing, you should think about the impact a divorce can have on an estate plan.
What Can You Do If Someone Steals Your Inheritance?
The first step in understanding whether a power of attorney can transfer money to themselves is to understand the different types of power of attorney.
While thinking about legacy planning can be unpleasant because it involves discussions about incapacity or mortality, it’s an important aspect of good financial planning that shouldn’t be ignored.
Heirs receiving an inheritance can expect the process to take time. Having a plan for the money and consulting with professionals are also things to keep in mind.
Does somebody else know where it is in the event of your death or incapacity?
Depending on their medical condition, persons with dementia are often capable of making their own decisions regarding legal aspects, such as advance care planning.
A frequent complaint by next-generation members is that the senior generation never fully lets go of business tasks.
Creating a will should be the first step in a comprehensive estate planning process, since it allows you to make sure that your wishes are properly carried out after your death.
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