How Power of Attorney Can Help Unravel an Estate Mess
father and son on a beach

How Power of Attorney Can Help Unravel an Estate Mess

This is the type of estate scenario that demonstrates the importance of having a will, no matter how old you are. The challenge, as described in My San Antonio’s article, “Using power of attorney in daughter’s estate,” is untangling the house title, the mortgage and the taxes. Having a will would have prevented this entire situation from occurring.

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Will Contests May Be Rare, but They Do Happen

In an ideal world, wills and estate plans are created when people are sound of mind and body, just as the familiar legal phrase describes. The best way to avoid a will contest is to have a well-written will, prepared by a qualified estate planning attorney who can help avoid legal contest. However, there are times when this is not the case, says The Huntsville Item in the article “Legal Corner: Will contests while rare are messy.”

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Your Will Isn’t the End of Your Estate Planning

Even if your financial life is pretty simple, you should have a will. However, there’s more work to be done. Assets must be properly titled, so that assets are distributed as intended upon death.

Forbes’ recent article, “For Estate Plan To Work As Intended, Assets Must Be Properly Titled” notes that with the exception of the choice of potential guardians for children, the most important function of a will is to make certain that the transfer of assets to beneficiaries is the way you intended.

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The Conversation You Need to Have with Your Parents
Woman with elderly mother on bench in park

The Conversation You Need to Have with Your Parents

Sometimes the way to ease into a conversation with aging parents about money and their plans for the future, is to start by discussing your own. You want to know about their will or retirement finances? Start by explaining your own plan, how you’ve decided to set up your estate and then ask what they’ve done for themselves.

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How Do I Organize Estate Planning Documents, So Family Can Find Them?

Keeping track of certain estate planning documents and talking about them with your loved ones, who are likely to live after you pass, can be unsettling. However, they can make their lives easier. Your children and beneficiaries should always know where your estate documents are, says Lancaster Online in the article “The paper trail: Keep important documents in order to make it easy on family and friends.”

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What If Your Executor Doesn’t Want to Serve?

When you’ve finally come to determine who you trust enough to serve as your executor, you’ll need to take the next step. It involves having a conversation with the person about what you are asking them to do. You’ll need to ask if they are willing, says the Pocono Record in the article “Don’t assume person is willing to be your executor.” People are often flattered at first when they are asked about this role, but if they don’t fully understand the responsibilities, they may decide not to serve just when you need them the most.

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Here’s How You Know You’re an Adult: 10 Documents

Fifty is a little on the late side to start taking care of these important life matters. However, it is better late than never. It’s easy to put these tasks off, since the busyness of our day-to-day lives gives us a good reason to procrastinate on the larger issues, like death and our own mortality. However, according to Charlotte Five’s article “For ultimate adulting status, have these 10 documents by the time you’re 35,” the time to act is now.

Here are the ten documents you need to get locked down.

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Not a Little Black Book, but a Big Blue Binder
Office folder isolated on white

Not a Little Black Book, but a Big Blue Binder

Life happens, when we’re not prepared. A woman is recovering at home from minor surgery when her older sister dies unexpectedly, thousands of miles away. She can’t fly from her home to her sister’s home for weeks. What will happen, asks Considerable in the article “This is the most helpful thing you can do for the people who love you” ? If you’re not prepared, the result is a mess for those you love.

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