Creating a comprehensive estate plan means assessing various aspects of your life and reviewing your options for how to address those aspects in the future. Some people may feel satisfied creating a plan that consists only of a simple will, but you could believe that using other important documents could better suit your particular needs.
You never expected it to happen, but you are on the cusp of your second marriage. This time, you feel like you have found the one, and you are ready to start this new chapter in your life. Entering a second marriage is not something you intend to do with blinders on. If your first marriage ended badly, you may feel it is dangerous to throw caution to the wind.
You signed your will and created a revocable living trust. You established your advance directive plan, including your living will and power of attorney. Most likely, you named your spouse as the primary beneficiary and proxy on these documents as well as on any life insurance, investments or pay-on-death accounts.
Estate planning is important, but not many people realize the value of making these plans until it is too late. This often leaves loved ones with the frustration and confusion of probate without the guidance of a will or other document. You may be among those who have created an estate plan. Even if it is just a simple will, you have taken a bold step to protect your family.
If you have a loved one with special needs, you know that it can be financially, physically and emotionally challenging to provide care. You work hard to provide the support he or she needs, but it is prudent to think about his or her care beyond your lifetime. It is possible that your family member could outlive you, and it is smart to have the necessary legal protections in place to ensure that he or she continues to get the care needed.
Every day, 142 people in the United States die from drug overdoses. This may be your greatest fear if you have an adult child who struggles with opioid addiction. The opioid crisis is so widespread that many refer to it as an epidemic.
You may already know that your special needs child cannot have assets over a certain amount in order to receive benefits from the government. This limitation may make it seem difficult to plan for your child's future. Fortunately, an estate-planning tool that could work for you and your child does exist.
Small business owners know that it takes an incredible amount of time, effort and planning to start and sustain a business operation of any kind. You may have put an enormous effort into starting your company, but you should also plan how you want to dissolve or leave it one day. Whether you wish to eventually close, retire or sell, it is wise to plan today for a problem-free future.
Many North Carolina residents have likely heard at some point about the benefits of having a power of attorney document. This document allows you to appoint an individual to attend to your financial needs should you lose the ability to do so yourself. Because you legally put someone else in charge of your finances, you certainly hope that the person will act in a trustworthy and responsible manner.
Throughout your career as a business owner, you undoubtedly enjoyed seeing your company thrive and grow into the success you had always hoped. You likely put much of your life into the business in order to ensure its survival, and as you grow older, you may find yourself wondering what could happen to the life of your business when your life comes to an end.