We frequently read about the protracted, or particularly venomous will contests of celebrity families. But what about your will – and your family? Are you confident that you are leaving a family legacy of peace and harmony, and not a wake of destruction? Bernard Krooks of Forbes recently wrote about how to prevent will contest in your own family. A will contest is a lawsuit challenging the validity of a last will and testament. A contest may ensue if an heir or family member perceives some inequity or unjustness in the distribution of money or possessions. They may contest that…
Retaining control and dignity as the end of life approaches is an often overlooked aspect of comprehensive estate planning. Regardless the size or value of your “estate,” proper planning should address these difficult issues. US News & World Report ran an article last week, How to Ensure Your Last Wishes Are Carried Out. As they outline, there are two primary ways to ensure your final wishes are followed: one is through legal documents, and the second is by communicating your wishes to those who may be involved in carrying them out should you become incapacitated. As regards legal documents, you’ll…
A trust in lieu of a will – may be better if you have a complex estate, require asset protection from the nursing home, a beneficiary who must meet certain conditions before receiving assets or a special-needs loved one who requires care after you are gone.
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