Articles Posted in Wills

After the devastation of accepting the loss of a loved one subsides, it can be challenging to determine how to best process. Unless you have navigated this process before, performing the various tasks asked of an executor can seem overwhelming. 

As a result, this article reviews some pieces of advice that will make the selection of an executor easier. 

# 1 – Understand the Role of an Executor 

Following a diagnosis of Alzheimer’s, you and your loved one will end up facing a number of serious challenges. 

For one, there are a number of difficult emotions including fear and uncertainty about what the future holds. Second, there are a number of complex issues involving estate planning. 

As a result, this article reviews some important estate planning tips that you should remember following an Alzheimer’s diagnosis of a loved one.

There are few things as painful in life as the death of a spouse. In addition to weathering the devastating emotions like loneliness and sadness that accompany this process, it is still important to plan for your future as a widow or widower. 

Unfortunately in some situations, the surviving spouse might have even been left out of financial and estate planning decisions that were made before death. 

This article reviews some of the important strategies that you should remember when it comes to estate planning and the death of a spouse.

There are a number of common estate planning errors that we see people make. These errors occur in almost equal proportion among the wealthiest as well as individuals of modest means. 

In the hopes of making the estate planning process more efficient for everyone, this article reviews some of the most common mistakes made by people during the estate plan.

# 1 – Not Having an Estate Plan

After creating an estate plan, you might think that you’ve made all of the steps necessary to plan for your future. 

Instead, it is just as important to make sure that estate planning documents are stored in a safe location. This article reviews some of the various options that people utilize to make sure that estate planning documents are safely stored.

# 1 – A Lawyer Holds the Documents

As estate planning professionals, we encounter a number of situations and are very familiar with the most common types of estate planning errors that people make.

No matter if these mistakes are the result of laziness or lack of care, errors in estate planning have the potential to create a number of substantial obstacles. For example, if a will is declared invalid, your estate might be administered in a way that does not conform with your wishes.

Hopefully by reviewing some of the most common types of estate planning mistakes in this article, you will be able to avoid them.

If you are a parent with a special needs trust, you likely understand how critical it is to prepare for the future. After all, these trusts make sure that a child continues to receive financial support in case you die or become incapacitated. These trusts are also particularly helpful because directly transferring assets to a special needs child outside of a trust can result in the discontinuation of government benefits.

Deciding the amount of funds to place in a trust, however, can be difficult. That’s why this article reviews some of the important details you should consider when funding a special needs trust.

# 1 – Housing Costs

Three people in Ohio were recently convicted on multiple charges related to a scheme associated with creating and probating a fake will that left the entirety of a $2.2 million estate to a beneficiary and revoked an earlier will the deceased person had executed in 1993. In an additional twist, the person who forged the deceased individual’s signature on the fraudulent will acted as a government information after his request for $50,000 to remain silent was denied.

This plot was discovered following a series of 171 withdrawals for less than $10,000 which caught the attention of the Internal Revenue Service. A trial resulted which saw forensic witnesses who examined the signature on the will. As a result of this conviction, the three individuals will not face jail time.

The Overwhelming Rate at which Estate Planning Fraud Occurs

Many investors focus on amassing as large a savings as possible, but some also want to create an estate plans to make sure that these assets are passed on to loved ones.

By following some proven strategies, it is possible to reduce the amount of associated estate taxes. The biggest mistake that investors make when estate planning is failing to understand the rules. If accounts are not properly created, there are a number of unwanted events that can occur.

As a result, if you are an investor who is interested in passing on your assets, you should make sure to follow the recommended tips below.

Electronic wills have the option of providing a variety of important benefits to individuals who are interested in the estate planning process. Considering the tendency of many individuals to delay issues related to estate planning, electronic wills provide individuals with an opportunity to quickly create a legal document that decides how their assets should be divided following their death.

Weaknesses in Electronic Wills

There are some dangers that exist in using an electronic will, which must be addressed before these wills are capable of being used before individuals. A skilled estate planning attorney, however, is often able to help individuals navigate these various issues which include the following:

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