While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
So, what happens with your estate plans if you are not in a traditional nuclear family? There is quite a lot that can fall under the umbrella of a non-traditional family, and the recommendations will vary depending on your specific circumstances.
Given their salaries and the chances of getting sued, physicians should strongly consider estate planning early in their careers.
A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.
Non-probate assets are those assets which do not go into an estate when the owner dies.
Selecting medical powers of attorney is an important step that aging parents should take to ensure they get the care they wan,t if they are unable to advocate for themselves.
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
An estate plan tells your heirs and the courts how to divide up your assets, but it also helps protect your loved ones from unnecessary hassle and expense–as well as potentially months, even years, tied up in the court system settling your estate.
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