
Can I Give My Child Access to My Bank Account? Should I?
Would your loved ones have necessary access to your bank accounts after you die to help carry out your last wishes and handle arrangements?

Would your loved ones have necessary access to your bank accounts after you die to help carry out your last wishes and handle arrangements?

If your life changes, so should your estate plan. Marriage, divorce, death of a spouse, a birth and a changing relationship with a child are just some of the life changes that may affect your estate plan.

Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.

With a Power of Attorney, you designate which individuals are in control of your assets and who can take care of your affairs, if you are unable to do so.

The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.
What are the advantages of putting assets into a trust?

If you’re helping an aging parent navigate Medicaid because they don’t have long-term care insurance or you think you’ll need it yourself someday, it’s important to understand how the program works.

Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?

Many people work hard to acquire real estate and then later find that that real estate makes them ineligible for Medicaid to help pay for nursing home or in-home, long-term care.

Remember that a will goes through probate, so a husband and wife typically try to avoid it by using joint ownership or beneficiary designations. However, they’re often mistaken by believing the will still controls their estate.