Every adult should have an estate plan in place regardless of your age and regardless of your financial status. Far too many people procrastinate with regard to estate planning and you are in fact taking a big risk when you go through life without making the proper preparations for the inevitable. There are a few basic estate plan essentials that everyone should have in place. One of these is some type of vehicle of asset transfer. The most commonly utilized instrument would be the last will, … [Read more...] about Basic Estate Plan Essentials
There are certain choices that must be made when you are preparing for the eventualities of aging. It is not the most pleasant thing in the world to consider, but a time could come when you cannot communicate your own health care decisions. You can put an agent in place to make these decisions for you if you were to become incapacitated by executing a durable power of attorney for health care. These legal instruments are alternately called health care proxies in some areas. Because the POA … [Read more...] about Consider These Traits When Choosing Health Care Agent
In the field of estate planning there are various different acronyms that you may see tossed about. One of these is "HIPAA," and we would like to provide an explanation with regard to what this is and why it is important to those who are making preparations for the future. What these letters stand for is the Health Insurance Portability and Accountability Act. Because of the passage of this act the medical community cannot release your medical records to anyone without your written … [Read more...] about What Is HIPAA?
Effective estate planning can involve any number of rather complex legal instruments. There are cases when people have assets that must be protected from creditors and claimants. These people and others may also be faced with estate tax exposure and of course the dynamic of the family in question can be a factor as well. On the other hand there are some individuals who just require the basics, and we would like to highlight the core elements that everyone should have in place even if they are … [Read more...] about Core Anatomy Of Basic Estate Plan