If you have already done the necessary work of drafting a Will, it is important to remember to review it regularly. Most people seldom bother to review their Wills, causing them to pass up the chance to make any changes and ensure that the document is still an accurate reflection of their wishes. While it may seem easier to tuck your will away and forget about it once it is written, this strategy ignores the fact that circumstances change.

Many people sincerely intend to create a Will, but most do not actually follow through with their intentions. This is unfortunate since a well-written Will addresses many concerns that you and your family members have about your wishes and your estate. There will never be a “perfect time” to draft a will, which is why…

Many people are adding a living will to their estate planning to ensure that correct choices will be made in the event they are incapacitated. This is a difficult situation to consider, but it is necessary since a living will is the only way that you can let your loved ones know what you want in certain medical and health situations.

A common mistake people make when writing a Will is leaving all assets to one family member, usually a spouse. While there may be certain tax benefits to giving all of your estate to your spouse, there are greater benefits to making sure all family members, especially children, are going to be well cared for.…

Many people forgo drafting a will because they think that Wills are only necessary for people who have large estates to divide. This is a mistake for a couple of reasons. First, most people are worth more than they realize. Once you add up your assets, home, vehicle(s), jewelry, any investments or savings accounts, you may be surprised at how much you have to leave to your family.

Probate is the court-supervised process of finalizing a person’s affairs and distributing his or her property after death. This becomes necessary if someone dies without a Will or any other estate planning provisions in place. A special probate court handles all aspects of administering an estate in the absence of other legal planning.

Using only your Will to leave benefits to a child with special needs may actually work against their future financial security. Gifts and funds that are Willed directly to an individual can in reality become an asset for the state. Since such funds are considered to be income, they may cause your loved one to…

Choosing a trustee to oversee your child’s supplemental needs trusts may be one of the most difficult and important decisions you will make. The trustee must be able to manage the trust, make proper investments, pay bills, and prepare tax returns. They must be organized, careful, knowledgeable about the law and capable of understanding your child’s needs.

When you can no longer care for a loved one with special needs, a Letter of Guidance can help make their transition to a new living situation go as smoothly as possible. The Letter of Guidance, written on the premise that no one knows a child better than a parent, contains important information about your loved one’s history, likes, dislikes, current health and emotional status, hopes and dreams, as well as what your wishes are for their future.

Establishing a supplemental needs trust to benefit your loved one with special needs is a very important step in ensuring they will be cared for when you are no longer able to provide such support. However, there are many things to consider other than finances when planning for your loved one’s future. For example, where…