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Who Needs a Will or a Trust?

Everyone needs either one or the other. These documents make sure that your property is passed to your spouse, children, or other loved ones in the way that you wish they were passed on. It also often cuts down on arguments because your loved ones know what your true wishes were with your property. Estate planning with either a will or a trust will ensure that many of the digital documents that are precious to you and will be important for generations are also preserved. Wills and trusts can give guidance and instruction as to what happens to these very important "digital assets." But which is best? Which is best for you, a will or a trust, is based on your situation. The answer can differ f

11 Estate Planning Mistakes that May Be Hiding In Your Plan

Estate Planning Mistake #1: No Disability Plan Often if people have not created a formal estate plan and do ad hoc planning, they will have designated beneficiaries on accounts and made plans for what will happen with their property if they die, but often incapacity planning is overlooked. If incapacity planning is overlooked it can lead to real problems. For instance, my grandfather had alzheimer's before his death. One day he wandered away from home and my father could not find him for days. He was at a hospital but the hospital would not disclose whether they had him at their facility because my father did not have a HIPAA waiver (a document that allows others access to medical informatio

4 Myths About Estate Planning Busted

There are lots of myths about estate planning, but here are four that are the most widespread. Myth #1: If I become incapacitated my spouse automatically becomes the person in charge of all of my health care and financial decisions. Busted: This is sometimes the case, but based on how your assets are titled and state law your spouse may or may not be able to take over your financial decisions and health care decisions. Besides, you may be in the same car accident. You need a plan that includes powers of attorneys and health care directives to make sure the right people are in charge of your health care and financial decisions. Myth #2: I have told my family what I want, they will be able ta

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