Blog

Those of us who have had the misfortune of receiving an inheritance from a loved one know how this can bring up many feelings. You can find yourself coping with the loss of someone close to us and would rather have them back than any amount of money they left.

Today, many individuals suffer from drug abuse or addiction issues. Unfortunately, these individuals can go to any length to satisfy their substance abuse cravings, including spending all their savings or selling off assets. As a result, parents who have children with substance abuse issues must devise a plan to protect the property, money, assets, and other inheritance available to their children. Thankfully, this can be accomplished by setting up a spendthrift trust and naming a reliable person to hold the trust property on the beneficiary’s behalf.

When you’re faced with the task of being the executor of a loved one’s estate, you’ll likely be forced to grapple with several issues and questions you’re unprepared for. Specifically, many executors want to know what happens to the debts of someone when they pass away and whether they’ll be responsible for paying them. This is a complex question to address, and any time you’re administering the estate of someone else, you should consult with a probate attorney to ensure you’re doing everything correctly.

Creating a will allows you to provide certain instructions about how your estate and assets should be handled, distributed to inheritors, or disposed of following your death. However, several life changes may occur to you, your family, your finances, and assets after drafting your will. Such changes may include divorce, a new relationship, the arrival of a new baby, job loss, acquiring more assets, or retirement. As a result, you need to review and update your will.

Creating a well-detailed plan is imperative to provide specific instructions regarding how you want your estate and final affairs settled after you’re gone. However, different issues often arise when a parent who has dementia or cognitive impairment wants to create an estate plan.

Estate planning allows you to set forth specific instructions in advance concerning how your property, assets, and investments should be managed, disposed of, or distributed when you’re no more. However, when in a second marriage, there are several considerations you need to put in mind when drafting your estate plan.

With rising costs in almost every sector of society, it’s to be expected that people will look for ways to cut costs wherever they can. However, there are some goods and services where it may be worth it to spend a few more dollars to ensure you’re getting exactly what you want. One area where this may be particularly important is with estate planning. Nowadays, you can find numerous online estate planning forms and templates that advertise themselves to be fast and easy, but can you really trust these claims?

Estate planning is one of the most important things anyone can do to protect their loved ones. However, estate planning often gets overlooked amid the hustle and bustle of everyday life. It is never too early to plan your estate.

Conflict can set in for a variety of reasons. Perhaps the parent didn’t leave a will, or the will seemed to favor one child disproportionately. Maybe the will was revised right before the parent’s death, leaving questions if someone unduly influenced the revision.

If you suspect that your loved one’s agent is abusing their power or misusing their POA privileges, contact an attorney immediately. The longer you wait, the more harm can be done and the less likely you are to prove that power of attorney abuse has occurred.