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Probate is the court process for wrapping up a person s financial affairs and transferring his or her property to heirs, either under a Will or without a Will. Probate can be avoided in many ways, most of which are simply bad ideas. [Read More. ]
When she died, Ellen left an equal share of her $500,000 estate to her irresponsible daughter. Here s how she did it. Like most parents, Ellen wanted to treat her three children the same to the penny. But Ellen worried about [Read More. ]
Do you have an unfunded Trust? Planning for the preservation and transfer of a person s property after their death is called estate planning. A good estate plan includes a Will, powers of attorney, a Living Will (Health Care Directive in [Read More. ]
Few people value their property more than they value their family, yet they fail to plan for family peace. These Utahns likely shed tears in heaven when they realized their poor planning turned their children against each other. (Names have been [Read More. ]
Viera and her late husband Ben died believing they left everything equally to their children because it was written in their last wills. They were wrong. Viera lived fourteen years after Ben died. Their divorced daughter Lucy moved in with Viera [Read More. ]
Mary worries about the what ifs. Mary (age 74) is a widow in good health. Her home in paid for and she never wants to leave her neighborhood. She has sufficient savings and retirement income to enjoy many more years. But she [Read More. ]
This article was originally posted on SimplySeniorsNews.com Most people know who they want to receive their property and possessions when they pass away, so why don’t people make their wishes known by preparing an estate plan? Susan had been [Read More. ]
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A fundamental goal of estate planning should be to protect your assets so they can be passed to your heirs, usually the next generation of your family. In estate planning, asset protection takes two forms: 1) protection from estate taxes, and 2) protection from future creditors. Protection from estate taxes the 98% mistake. Almost [ ]
Most people want to avoid probate, the court process of wrapping up a person s affairs after death. Unfortunately, many Utahns make costly mistakes by do-it-yourself probate avoidance. Don t make these mistakes: Bad way # 1: Put your kids on the deed. Marie s heard she could avoid probate by putting her four children on the deed [ ]
Since his stroke last year, Rick (age 75) has needed constant medical care. He and his wife, Helen, have exhausted their savings and plan to sell their home (worth about $240,000) to pay for Rick s care. Now, Rick needs to be in a nursing home at a cost of about $6,000 per month. Question. What [ ]
Libby is a fun and energetic 62 year old woman. Two years ago, she was diagnosed with Alzheimers, but few of her friends know about Libby s disease. Usually she is fine, but sometimes Libby gets confused or can t remember what she was doing. Last week, Libby purchased a $9,000 home security system she doesn t want [ ]
Every family crushed by the devastating diagnosis of dementia usually Alzheimers should read The 36-hour Day (4th ed. Johns Hopkins Press) by Nancy L. Mace, M. A. and Peter Robins, M. D. With their fascinating description of the medical and social tornadoes of memory loss, the authors urge families to get early and [ ]
Contents Patty is happy, but her three children are upset because she and Sam are planning a wedding. Mom, he s so unlike dad. Are you sure? Patty s sure. Patty has been lonely since Jim died. Sam is very unlike her first husband, who was always calm, logical and frugal. Sam Islands, with two more exotic trips [ ]