There are two very important things no estate plan should be without: the designation of someone to be your agent for health care (also known as the person who holds your medical power of attorney) and your living will.Living wills are provided free by hospitals...
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Estate Planning
Should you rewrite your will or add a codicil?
The odds are high that the first will you write won't be your last -- especially if you do things the way that you're supposed to and prepare a will while you're still fairly young. Over time, it is probably going to become necessary to change at least some of the...
What do you do with a will after you write it?
Once you've finally gotten around to writing your will, what do you do with it?A will won't do any good unless someone knows that it exists and where to find it -- but at the same time, you may not be comfortable placing it directly in the hands of one of your heirs,...
Avoiding estate planning? That’s your first mistake
What's the biggest mistake people make when dealing with their estate plans?Not having a plan at all. It doesn't matter if you are young or old, comfortably well-off or living paycheck to paycheck, everyone has a few things that they should address:1. Get a disability...
Should you decline an inheritance?
Most people think that they'd be lucky to be remembered in someone's will -- but sometimes a bequest turns out to be more of a burden than a blessing.There are some situations that should make you think twice about accepting an inheritance: 1. You can't afford it....
3 estate planning documents everyone (even you) should have
Studies show that more than 50 percent of people don't have any sort of estate planning documents ready. Many of those people probably believe that they don't need estate planning because they're very young and just starting out or don't have any assets they think...
Watch for these common estate planning mistakes
If you have your will and trust documents ready you may be sitting comfortably with the belief that you have your estate needs handled -- but hold on.You might just have forgotten something very important: the name of the designated beneficiaries on your bank...
Estate planning for spouses of noncitzizens takes special care
You already know that estate planning is a complicated process, but that process can be even more difficult when your spouse is a nonresident alien for estate purposes.Because of the limitations that are imposed on spouse-to-spouse transfers of wealth in any given...
Americans are putting off basic estate planning needs
Americans aren't planning ahead—and that could be problematic for both individuals and their loved ones in the future.According to a recent study, less than half of American adults have any kind of estate planning documents in place. Only slightly more than 40...
Donating your body or organs when you die: A primer
A lot of people like the idea of donating their organs to help other people in need have a better life. They also like the idea of donating their body to science, in order to further scientific or medical research in any number of ways.However, that's a topic that can...