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Important Things Your Family or Executor Will Need to Know
Does your family know if you have a Will, and if so, where it's located? How about account numbers and contact information of your lawyer and safety deposit box. Writing these things down now will make it so much easier for the person handling your affairs. ">Continued
Estate Planning for Beginners: Creating a Will
Most folks already know that the main purpose of a will is usually to dispose of your assets and personal effects. In its most basic form, a will should include these important parts:
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Last Will and Testament Form
Depression Rates Higher For Caregivers
A conservative estimate reports that 20% of family caregivers suffer from depression, twice the rate of the general population.
What Happens to Your Debts When You Die?
Several factors determine what happens to your credit card debt after your passing. The main factors to consider are the state in which you live and person who applied for the account. In most cases credit card debt is paid for through the estate of the decedent, meaning that if you have credit card debt at the time of your death, assets held in your estate will be used to pay off the debt. If there is not enough money in the estate to cover credit card bills, the credit card company will end up taking the hit and writing off the unpaid debt. ">Continued
What Are Some Common Types Of Trusts?
Trusts come in a variety of forms and can be established in many different situations. The most common forms of trusts include: Asset Protection Trusts, Charitable Trusts, Implied Trusts, Living or Inter Vivos Trusts, Irrevocable Trust, Special Needs Trust, Spendthrift Trust, Tax By-Pass Trust, Testamentary Trust, and Totten Trust. ">Continued
Being a Power of Attorney is Not Easy
We all want the best for our loved ones as they age and often times they may need to appoint a Power of Attorney to help handle their affairs. Be aware before you say yes to being a POA. It may be one of the most thankless jobs you will ever perform. It is hard work and time consuming. You will become the whipping boy for the rest of the family who overlooks the fact that you are rarely compensated for all the hours you put in. ">Continued
How Often Should You Update Your Will
Your Will is something that you should review from time to time and make appropriate change as your life changes.
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