Adult guardianships are sometimes necessary when an adult becomes incapacitated and the adult can no longer handle his or her financial or medical business. If there is no durable power of attorney in place, the guardianship becomes necessary. The court is the institution that is in charge of appointing a representative to handle the matters of the adult. Generally,...
Continue ReadingWhen most people plan to distribute their property at death, they think of a simple last will and testament. At death, the will goes through a legal process known as probate. The probate process is public, with the executor’s actions reviewed by the probate court. In most cases, the process takes several months; problems can turn the timeline into...
Continue ReadingWe are all going to get old. By planning accordingly, we can assure that our golden years are worry-free, at least in some aspects, and that our children will know exactly what our wishes are. Finances Ideally, your retirement plan for your old age should begin well before you’re considered old. The best-case scenario would involve being able to...
Continue ReadingBeneficiaries of estates may not be prepared to manage what their parents or others may leave for them after they are deceased. There could be mismanagement of the estate or fights over who receives what after their loved one has died. It is important for will-makers (testators) to help their beneficiaries prepare for their inheritance by placing stipulations on...
Continue ReadingInheritance can be a tricky subject. Dealing with inheritance issues is often unexpected, and surviving family members may not have a solid grasp of how the process works or who gets what. Some family members may be expecting a huge windfall upon a relative’s death, while others may be worried that they will get nothing. The following guidelines are...
Continue ReadingThe number of people with elderly parents has exploded in recent years, and taking care of an elderly parent, or even two, may be difficult. Sometimes, the health of an elderly person will depend on his or her caretakers. Often, assigning a guardian is required to keep a person safe in old age. The guardian is often a child...
Continue ReadingMost of the time, a guardian is someone who is appointed to take care of a minor child. In some instances, a guardian may also be responsible for taking care of an adult-aged person who is incapable of taking care of himself or herself. Additionally, the guardian is also responsible for handling the person’s assets. Sometimes, the guardian may...
Continue ReadingNo one likes to think about their own death, but it is important to make sure loved ones are provided for in case it happens. Anyone without a will should give it serious thought. Anyone with a will that needs changes, should do it now. A legal will is one that the probate or Surrogates court will accept and...
Continue ReadingPlanning an estate can be stressful. What is often worse, though, is the state that the living family is left in after you pass. If your estate is not carefully divided, a family can quickly turn on itself. These five tips can help to save you from family turmoil: 1. Meet with an Attorney A few wrong words can...
Continue ReadingBy creating a special needs trust, you can establish a firm financial future for someone with disability. If you currently provide financial support for a child, grandchild or other individual who needs special assistance, you have the option of transferring assets, such as real property and funds into a special needs trust. It will secure long-term support for your...
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