Why Should I Update My Estate Plan?
December 7, 2021
Estate planning is making decisions today for what you want to happen in the future.
Estate planning is making decisions today for what you want to happen in the future.
Every estate plan should include three essential documents: a durable general power of attorney, a healthcare power of attorney and a last will and testament. Of the three essential estate planning documents, the will is the only document that is used after death.
One of the biggest conundrums of estate planning is considering how, or even if, you can give money or property to your heirs in a manner that will help them.
One important aspect of estate planning is deciding what will happen to your home after you die. The answer might be fairly cut and dry if the home is fully paid for. If it’s not, though, you’ll need to consider the financial ramifications for your estate and for the person who inherits the home.
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.
How long does probate take? There are a variety of factors that determine how long the probate process can take.
As a legal adult after attaining the age of 18, your child should have in place several legal documents that will allow you to provide support and obtain information, if something unexpected happens to your child.
About 1.5 million Americans become widows and widowers in a normal year, but the pandemic has boosted that significantly. The National Center for Family and Marriage Research at Bowling Green State University estimates that about 380,000 of more than 700,000 people in the U.S. who have died from Covid were married.
Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one’s affairs.
If you have not already been inundated with invitations to webinars, articles and newsletters regarding the estate planning you should consider doing before new legislation passes, you undoubtedly will receive these over the next few months.
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028