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How to Estate Plan After a Second Marriage

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Estate planning is an important consideration for anyone. However, it can be even more complex after a second marriage. This is so because there are often multiple parties involved, including children from previous marriages. Thus, it can be difficult to balance the needs and desires of everyone. To ensure that your assets are distributed according to your wishes, it's important to take a comprehensive approach to estate planning. Here are some considerations for effective estate planning after … [Read more...] about How to Estate Plan After a Second Marriage

Why is Estate Planning Important?

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Estate planning is essential. It allows you to manage and protect your assets during your lifetime and after your death. Estate planning is extremely important for everyone, regardless of age, income, or net worth. Here are some key reasons why estate planning is necessary for everyone: It allows you to plan for incapacity. You can create a power of attorney, which gives someone the authority to manage your finances and make decisions on your behalf if you are unable to do so. Additionally, … [Read more...] about Why is Estate Planning Important?

What You Need to Know – Elder Financial Abuse

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Whether you are a senior, or are a loved one of a senior, the issue of elder abuse and neglect is something you cannot ignore. Financial abuse of the elderly, in particular, is something you need to understand in order to prevent becoming a victim. While elder abuse is not a new problem in the U.S., it is a rapidly growing problem. Financial exploitation of the elderly is the most common type of elder abuse. How Common Is Elder Financial Abuse? It is a shame that instances of elder abuse … [Read more...] about What You Need to Know – Elder Financial Abuse

What Bruce Willis Can Teach Us About Incapacity Planning

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When Bruce Willis announced his retirement from acting due to his diagnosis of aphasia, it surprised not only Hollywood, but also people across the country. Just a few weeks ago, Bruce’s family indicated that the disease had progressed to frontotemporal dementia, which highlights the importance of incapacity planning. While estate planning typically focuses on planning for what happens after death, a comprehensive estate plan should include provisions regarding what happens during life should … [Read more...] about What Bruce Willis Can Teach Us About Incapacity Planning

Why It Is So Important to Update Your Estate Plan When You Divorce

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Having a comprehensive estate plan in place is essential for all adults over the age of 18, regardless of the value of your estate. If you have an estate plan in place, you are ahead of the majority of Americans. But don’t stop there! Updating your estate plan when certain life events occur is just as important as creating the plan in the first place. For instance, if you go through a divorce, you need to take the time to update your estate plan, particularly your beneficiary designations. A … [Read more...] about Why It Is So Important to Update Your Estate Plan When You Divorce

Real Estate and Estate Planning

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It's important to properly plan for the distribution of your assets in the event of death or incapacity. Real estate is often the most significant asset for many individuals and families. Proper estate planning for real estate can help ensure that your property is distributed according to your wishes and that your loved ones are protected. Here are a few tips on how to effectively incorporate real estate into your estate plan: Create a comprehensive estate plan that takes into account all of … [Read more...] about Real Estate and Estate Planning