The last will and testament laws vary from state to state and so, the validity of your will depends on where you live when you die. Your will is a part of your legal documents, a baseline foundation of your estate plan that can ensure your wishes are respected by the people you love when you die. However, it may not be enough to protect your wishes as it does not keep your assets out of court and does not operate in the event of your incapacity. Moreover, it is useless if it is not legally valid
Nowadays, it is important to take extra care of yourself to protect your loved ones not only from the coronavirus disease but from accidents that may risk their lives. As we move toward a COVID safe world, it is vital to do everything you can to continue to protect yourself and your loved ones from getting sick. Getting a disability insurance ensures that you are financially protected in the event you become disable and that your family is free from financial burden. Read here to learn more.
The coronavirus has infected millions of people in the US, including parents of young children. This brought fear to every parent like you, that if worse could happen to you and your spouse at the same time, who would watch your children? Who would take care of them even just for a short period of time? Situations like this can be traumatic for your minor kids so it is critically important to devise a plan and name legal guardians to protect them in case the unthinkable happens. Learn more here.
The burden of both to carry on with your work and manage your child's full-time care and education can be overwhelming. If you are like most parents - struggling with guilt even before the coronavirus pandemic because of the lack of time to simply play with your kids or help them with their homework, then, you are not alone. Here are some ideas to help you alleviate the feelings of not doing enough for your kids which in the long run, you will appreciate if the unthinkable happens to you.
Know that no matter how poor or rich your parents are, they especially must secure an estate plan because their affairs will affect you and will become your responsibility in the event they become incapacitated or die. Their estate plan ensures that their assets no matter how much or how little it can be will be distributed to their heirs according to their personal wishes. If you do not know whether or not your parents have estate planning in place that will help you best support them, read on.
It can be difficult trying to convince your elderly parents about the importance of social distancing and self-quarantine during the pandemic but with proper communication and telling them how much you care using "I" statements will help them realize your point. Be clear about why you're worried and model the way for them, even if they have not modeled the way for you in the past. Read here to learn more about how to effectively communicate with your parents and get them to stay at home.
Keeping your loved ones out of the probate court and conflict is the primary reason for establishing a living trust. It plays a major part in you and your loved one's life because it does not only keep them out of court and conflict, but it also helps educate them on your true purpose and details what your wishes are for your assets upon your demise. Read here to know if your living trust is set up the right way for the people you love.
At some point in life, you might not be able to make decisions for yourself due to a medical condition, and when this time comes, you should be prepared. To ensure you remain part of the decision-making process concerning your life and that the preferences for your ongoing care are respected, you'll need to have the right legal documents in place. Read here how to help you and your loved ones make these important decisions on your behalf, which you may be unable to make later in the future.
We are always at risk of becoming incapacitated or deceased — even when there is not the coronavirus seemingly taking over the world by infecting and killing thousands of people. While now is a good time to ensure your estate planning documents in place and up-to-date, I should note that it is always a good time to make sure this important task is completed to ensure that your wishes are honored in the event of your incapacity and that your kids and loved ones are protected.
Being left in the hands of unscrupulous guardians appointed by the court can be the most frightening aspect for you in the event you become incapacitated, given that you may have a loving and caring family members, but are unable to take care of you. Putting up a plan in place that clearly states all your wishes and consent prevents such from happening and ensures that the individual of your choice can make legal decisions on your behalf according to how you wanted them to be.