When should I consider updating my will?

During the occasional neighborhood discussions, the subject of estate planning surfaces. You have a will and are content to know that you are prepared and have put your estate in order for your loved ones. You seem to be all set, and you tell your neighbors so, even though you created your will 15 years…

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What is a medical power of attorney?

Estate planning covers many aspects of your future, not just what to do with your assets after you pass away. It’s more than simply writing a will. One of the documents that you may want to use in your plans is a medical power of attorney. Not everyone has one, but you should be aware…

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Remember how life insurance fits into your estate plan

If you have a life insurance policy, it represents a significant asset that your heirs can use, despite the fact that you don’t have the money on hand at the time. While doing your estate planning, remember to consider how any insurance policies you may have will eventually fit into the scheme of things. Because…

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Organizing your estate after a terminal diagnosis

If there is one thing that is practically guaranteed in life, it’s that there is no way to predict when you’ll get hurt, fall ill or pass away. For that reason, it’s important to have an estate plan in place. Terminal illnesses create an immediate need to start an estate plan if you don’t already…

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Why drafting a joint will may be a bad idea

You have been married to your spouse for decades but have just got around to doing some much-needed estate planning. Since the two of you are close in every aspect of your marital life, you might like the concept of drafting a joint will for the both of you. Many estate planners will advise against…

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What is the Medicaid look back period?

Individuals who are approaching the senior years need to think about how they will be able to pay for long-term care and medical bills as they age. There are programs available that can help, but some people might find that they are unable to quality for them because of asset or income rules. One of…

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