Planning for your potential incapacity and eventual death is probably the farthest thing you have in mind, but getting it handled as part of your wedding planning is the greatest gift you can give your soon-to-be spouse. Indeed, once your marriage is official, your relationship becomes entirely different from both legal and financial perspectives, so here's we cover the final three of the six essential items you need to address in your plan.
As we head into the peak of wedding season, if you are a newlywed or are about to tie the knot, add "estate planning" to your do list. And yes, we imagine that at this happiest time of your life, planning for your potential incapacity and eventual death is probably the farthest thing from your mind right now, but getting it handled as part of your wedding planning is the greatest gift you can give your soon-to-be spouse.
Planning for your potential incapacity and eventual death, regardless of your financial status, is something that you should take care of immediately, especially when you have children. While Aretha lived a relatively long life, you'll never know when tragedy may strike, and through diligent estate planning, you can save your family from the needless disputes, expense, and embarrassing public exposure the late singer's loved ones are currently enduring.
A last will and testament is the most commonly thought-of document when it comes to an estate plan. But really, it's only a very small part of an integrated plan that ensures your family stays out of court and out of conflict if and when something happens to you. Do not think you can just write your own will that will help your family, especially when you plan on creating it online. If you need help in getting started, consult with Personal Family Lawyer® that will help you through the process.
To make certain that your business—and the income it generates for your family—would continue to run smoothly when something happens to you, you need to create a comprehensive estate plan, and it really needs to include a trust. Without such a plan in place, your business will be stuck in an unnecessary court process that could easily cause the loss of everything you’ve worked so hard to build.
2020 has set unprecedented variables in business with the advent of COVID-19. You will never know what could go wrong at any given moment. It is possible for your business to be completely swept away by the pandemic without means of protection. One of these means is having comprehensive insurance coverage. This can cover almost anything from properties, professional services, computer systems, business and employment practices and more.
Advanced health care planning is an ideal way to prepare for the future. Being unable to relay your healthcare instructions in the event of death or incapacity will be an added emotional burden to your already distressed loved ones. With the current pandemic overloading hospitals everywhere, it becomes more urgent to put your documents in place before it is too late. Find out what other directives to include in your plan to expedite the decision-making process and to ensure your family’s safety.
The CARES Act is a trillion-dollar program that provides direct economic assistance to workers, families, and small businesses. It is free money from the government that will hopefully relieve citizens of some of the financial strains brought about by the COVID-19 crisis. Qualified individuals will be given money thru direct deposit while business owners can apply for loans. Here’s everything you need to know to make the most out of this new law.
The world is still shaking from the colossal impact of COVID-19 especially in the health sector. Now is a high time for you and for the family to make informed decisions regarding your health care needs. From the basics of a medical power of attorney to the intricacies of living will, here's what you need to know about advanced healthcare planning.
Even multimillionaires are not immune to an oversight in designating their heirs. One prominent example is Kobe Bryant whose legal team failed to list his youngest daughter in the family trust. And though they can easily correct this, it's not the same for everyone. Hefty legal costs and lengthy proceedings can have a tremendous financial impact on your family.