
Is Estate Planning and Writing Will the Same Thing?
Many people think that estate planning and writing a will are the same. However, one is actually just part of the other.
Many people think that estate planning and writing a will are the same. However, one is actually just part of the other.
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
Almost half a million new cases of Alzheimer’s disease will be diagnosed this year in the United States, according to the BrightFocus Foundation. Worldwide, someone develops some form of dementia every three seconds.
Of course, just because you have a living trust doesn’t mean you’re all set. Here are a few of the most common mistakes people make with their living trusts.
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
Homes are illiquid assets that produce no income and come with ongoing costs for upkeep. Those issues can cause some snags with your trust.
Given their salaries and the chances of getting sued, physicians should strongly consider estate planning early in their careers.
Dealing with a sick family member is a challenging and emotional time.
Of course, just because you have a living trust doesn’t mean you are all set. Here are a few of the most common mistakes people make with their living trusts.