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In this article, you can discover… How retirement impacts estate plans. How to add healthcare into your estate plans. Ways to avoid common estate planning mistakes. How Will Someone’s Estate Planning Needs Change When They Retire? Relationships and your family’s financial needs often evolve as you age. For instance, money you may have set aside years ago for a young child’s care can be redirected if that child has since grown into a successful adult who no longer needs financial support. It’s also important to recognize the realities of aging and consider naming a durable power of attorney in case you become unable to manage your affairs later in life. Additionally, appointing a medical durable power of attorney is crucial. These steps can help ensure your wishes and assets are protected if they are ever contested due to disability. By… Read More
In this article, you can discover… The purpose of a special needs trust. Key benefits of establishing a special needs trust. The common mistakes to avoid with a special needs trust. What Is A Special Needs Trust? A special needs trust helps provide for a disabled adult in ways that take into consideration government benefits and the wishes or needs of the disabled person. If a large amount of money is left to a disabled person, their government benefits may be cut off in light of this inheritance. They would then have to use up the inheritance before they could receive benefits again. However, a special needs trust helps allocate that inherited money to non-essential things, such as vacations, haircuts, and entertainment. This allows the basic necessities of life such as housing, food, and clothing to be provided by government… Read More
In this article, you can discover… Who inherits your assets if you die without a will. What becomes of your debts after you pass away without a will. How an attorney can help you avoid these pitfalls and plan meaningfully for the future. Who Inherits Your Property If You Die Without A Will In Colorado? If you pass away without a will in Colorado, the state has established laws that determine how your property is distributed among your family members. The order of inheritance generally follows this sequence: First, your property would go to your children. If you have no children, it would go to your parents. If your parents are no longer living, the inheritance would go to your grandparents, if they are still alive. If there are no living parents or grandparents, your property would go to your… Read More
In this article, you can discover… Why updating your estate plan is crucial. How DIY estate planning can lead to serious errors. Risks an attorney can help you avoid when estate planning. Why Is It Critical To Understand The Complexities Of Proper Estate Planning To Protect Your Legacy? Understanding the complexities of estate planning equips and empowers you to express your wishes and make sure that your plans for your assets are respected and secure. Without the proper legal help, understanding which documents to use can be incredibly difficult, and lead to mistakes that impact generations. Hiring a seasoned estate planning lawyer to help you understand these nuances allows you to choose the estate planning option that works for your assets, family members, and wishes. How Can Failing To Update Your Estate Plan Regularly Lead To Problems? Estate plans need… Read More
