You might assume your close family and friends will take care of your children if anything ever happens to you, but everything won’t be simple and easy unless you prepare for it. Your family and friends would probably want to take care of your children, but it is not up to them to decide. If you did not appoint a guardian for your children, even a stranger could gain custody of your loved ones. Plan now so you could make certain that your children are never taken into the care of strangers.
The lack of estate planning has lead Aretha Franklin’s family to lengthy court battles, major expenses and great amount of stress. Although a will would have been helpful, even a will could not have saved Aretha Franklin’s family from going to court, because of the size of her estate.
Regardless of your financial status, planning for incapacity or your eventual death is something that you should immediately address, especially if you have children. Here's what Aretha Franklin’s death taught us.
Moving out is a big step for your kids as they are starting a new phase of their life. You might not have thought about what would happen if they were to become incapacitated, but that is a very important thing to consider before you kids move out. As they turn 18, you will not have access to their financial or medical records, unless they sign certain documents to allow you access. Here are documents you should make them sign so that they are taken care of in an unforeseen accident or illness.
The process of divorce is a difficult time for the whole family, it can be extremely hard if children are involved. Couples tend to focus on the negatives of the relationship rather than ending their marriage in a more positive way that is healthier for everyone involved. Conscious uncoupling is the more positive divorce process that minimizes stress and makes the experience much easier. Read here how conscious uncoupling benefits you, your family, and your finances.
There are many things that we cannot predict, but can prepare for, such as death. After your death, or even if you are disabled and unable to make decisions for yourself, you need to make sure someone can make important decisions on your behalf. This Agent should be someone you can trust and will carry out your wishes exactly they way you would like. Here are different types of agents everyone must have.
Protecting your assets will take more than just a Will. You might think a Will is all you need in order to protect your Assets and family, but a Will is only going to leave your family in more stress and confusion after you are not there to support them. Many complications come with a Will including the lack of privacy and no control over how your assets after they are distributed. Here are some important requirements you might after your death, but won't be covered through just your Will.