A so-called sweetheart will describe an estate plan in which the first spouse to die leaves everything to his or her surviving spouse. When the second spouse dies, the couple's children divide the remaining assets. Review these considerations if you and your spouse...
Effective ways to include charitable giving in an estate plan
No matter the reasons people give to charities, most want to make their donations as powerful as possible. Estate planning has the potential to increase the effectiveness of charitable gifts through specific legal tools designed to maximize benefits. These measures...
What do financial powers of attorney do?
In addition to estate planning documents like wills and trusts, you must also protect your assets in other ways. Naming a financial power of attorney is an essential part of estate planning. While other methods protect your estate after you are gone, a power of...
Should you review your estate plan?
Creating your estate plan is a big step in end of life planning. But once you create it, you have to maintain upkeep. After all, your estate plan must reflect your life circumstances, which constantly change. So when should you update your plan? Is there anything in...
How to get the most out of charitable giving
Individuals and families who give to charity want to support a worthy cause as well as maximize the use of their money. Donors also experience a number of intangible benefits related to the act of giving. It pays for donors to find out ways to get the most out of a...
Estate planning considerations when a child has special needs
If your child has physical or mental health concerns that result in special medical and educational needs, he or she may need extra support even as an adult. Providing for your child with special needs in your estate plan can give you peace of mind in case you can no...
Are there alternatives to guardianship?
If you have a special needs relative or a loved one in declining health, the subject of a guardianship has probably come up. It is natural to agonize over this decision since appointing a guardian will take away a lot of rights your relative used to enjoy....
What are the benefits of a donor-advised charitable fund?
A donor-advised fund is a savings account that lets you set aside money or assets for charitable causes you specify now or in the future. Consumer Reports explains that these funds can help you meet your charitable giving goals while offering tax and other...
Estate planning considerations for a second marriage
If you have decided to get married again after a divorce, you may need to adjust your estate plan. Updating your will and other documents to include your new spouse and provide for children from both marriages can help prevent future conflicts. Review these estate...
How can you include your pets in your estate plan?
Maybe you have set up most of your estate plan in North Carolina, or you are just getting started. People at all stages of their estate planning eventually run into the question of how to provide for their pets after they have passed away. Including your pet in your...
