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The Importance of Updating Your Estate Plan After Major Life Events
Estate planning is a crucial step in ensuring that your hard-earned assets and legacy are protected after your passing. The legal documents that are involved in this process are essential if you want your property passed to certain heirs after you are gone. However, the creation of an estate plan is not a one-and-done task. It requires regular reviews and potential updates when certain life changes occur. When these situations arise, an estate planning lawyer can help. Major life events, such as changes in your marital status, financial situation, or health, can all call for updates to be made to
Out-of-State Real Estate and Its Effect on Estate Planning
Estate planning helps you plan for your own protection as well as the care and financial support of your loved ones. Many documents can be used to protect your assets and estate, and estate planning can benefit anyone with even a small number of assets. However, an estate plan can become complex when you have assets that are complicated, high-value, or owned in other states. An estate planning attorney can help you navigate the process of modifying an existing plan or creating a new one that manages these assets. When you own assets like real estate in other states, you
Estate Planning and Second Marriages
Creating an estate plan helps many families feel more at ease about the future. Estate planning is especially important for blended families and individuals who have remarried. If you are unsure how to begin updating or creating an estate plan, you need an experienced estate planning attorney. An attorney can help you decide what changes are needed and how to effectively protect the interests and financial standing of all those in your family. If you already have an estate plan, a second marriage is the right time to review and update it. If you do not have an estate plan,
The Benefits of a Comprehensive Estate Plan
Estate planning can include a few or multiple documents to determine your wishes and the people you want to benefit from your estate. These documents can be personalized to meet your specific needs. Comprehensive estate planning provides significant benefits, but it is only useful if it is legally enforceable. An estate planning attorney is necessary when creating your estate plan. Every plan is different, but understanding the benefits of some of the most common documents can help you understand the use of comprehensive planning. A Last Will and Testament A will is a basic part of a simple or comprehensive
What Is a Special Needs Trust?
Comprehensive estate planning throughout your life can benefit you and your loved ones. Trusts are an effective way to provide assets to loved ones without your property passing through probate court. Trusts can also be used to provide assets to a loved one without jeopardizing the state benefits they rely on to live. This is a special needs trust. A trust attorney can help you and your loved one create a trust that provides them with the most benefits and protects their interests. Individuals who receive Supplemental Security Income (SSI), Medicaid, and other government benefits programs cannot have more than
How LGBT+ Couples Can Protect Themselves With Estate Planning
Same-sex couples gained several benefits from marriage equality, but there are still many ways that effective estate planning can protect LGBT+ couples and their families. Not all couples wish to be married, and there are still complicated legal issues for those who are, such as the assumption of parental rights. If you are an LGBT+ couple hoping to protect each other’s rights and the financial and personal interests of your family, you need an experienced estate planning attorney. There are several benefits to estate planning. These include: Providing Your Partner With Important Legal Rights Many LGBT+ couples remain unmarried. Even
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