If you fail to create a business succession plan, when you die your business becomes part of your probate estate. Your business can lose significant value during the time it takes to probate your estate.
With rising inflation and other issues causing economic concerns, many seniors may be looking to life insurance policies as a financial solution. While life insurance can serve as a source of needed income there are some drawbacks.
A living will is a written, legal document that explains your wishes regarding medical treatment, end-of-life procedures, pain management and organ donation. These decisions vary greatly from one person to another. It comes down to your values and can be complicated.
Estate planning strategies cover the distribution of all types of property after a person dies. Through the use of a will or trust, a person designates who should receive each type of property.
Etiquette makes people comfortable and at ease and it shows that we value and respect others. What more appropriate time to conform to etiquette standards than at a funeral? When attendees are mourning the loss of a loved one, the more appropriate and well-behaved the guests, the better for those suffering from grief.
Maintaining excellent oral hygiene as we age is important to stave off the need for dentures and other painful dental issues. The American Dental Association states that there are strong correlations between dental health and overall physical health.
A Qualified Personal Residence Trust (QPRT) can be a useful tool during the estate planning process. The purpose behind this type of trust is to allow a homeowner to transfer their primary residence or a secondary residence (like a vacation home) into a trust, but still maintain the right to live in it for a specified amount of time.
Many caregivers notice that their senior patients tend to lose their appetite and make poor food choices when left on their own. These later years require proper nutrition for optimal health and increased longevity.
Whether you need to assist an elderly loved one with financial choices or make important health care decisions, the ability to help in this capacity can be limited without proper planning. This becomes especially important when your loved one moves into an assisted living facility or becomes hospitalized.
