Why You Can Never Be Too Young to Estate Plan
When you hear people talking about estate planning, you may associate it with your parents or your grandparents. You may think about it as something that wealthy individuals do to protect their assets and figure out where their money will go after they die. Estate planning is about so much more though. In...
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Talking to Your Elderly Parents About When It Is Time for Them to Stop Driving
As your parents age, you will have to have some difficult conversations with them. One of these conversations may be your growing concerns with their abilities to safely operate a motor vehicle. From the time we start driving, we associate it with freedom, independence. Approaching a conversation with your parents about the possible...
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Things to Do When Moving a Loved One to a Nursing Home
It can be a difficult decision, but there may come a time when you are no longer able to give an elder loved one the level of care they need and deserve. This means that you will need to begin the process of moving him or her to a nursing home facility. Even when...
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What Happens If There Is No Named Executor of an Estate?
A personal representative, otherwise referred to as an “executor” or “administrator,” of an estate plays a vital role during the probate process. This individual carries the responsibility of administering and distributing the decedent’s estate. Oftentimes, the personal representative is named in the decedent’s will. Other times, there is no named personal representative of the...
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How Long Does an Executor Have to Settle an Estate in North Carolina?
The executor plays a crucial role in the probate of a decedent’s estate. As executor, the person assuming this position must manage the estate of the decedent throughout the probate process. The executor must inventory and manage property of the estate. All potential creditors of the estate must be notified by the executor...
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What Is Parents’ Dependency and Indemnity Compensation (DIC)?
The United States is proud of our veterans and that which they sacrifice so that our freedom remains secure. That is why there are many veteran benefit programs offered by the federal government and administered by the Department of Veterans Affairs (VA). The government also recognizes that the parents of veterans have given...
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What Is an Irrevocable Life Insurance Trust?
It is no surprise that life insurance is one of the most commonly purchased financial products in the U.S. The benefits of life insurance can provide critical financial relief in the wake of the death of a loved one. Life insurance proceeds can replace the earnings of a breadwinner or cover cost of burial...
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Which Assets Avoid Probate?
During probate of an estate, the court oversees the management and distribution of a deceased individual’s assets. Additionally, all outstanding debts of the estate are paid. An executor or administrator of the estate will be appointed to carry out the necessary tasks of probate. The logistics and necessities of going through probate...
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Why You Should Consider Incorporating 529 Plans Into Your Estate Plan
When properly crafted, an estate plan has so much more to offer than simply a way to distribute assets to your family and loved ones. There is an extensive range of estate planning tools that are often overlooked, but can provide many benefits to those who choose to access them. For instance, a 529...
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How to Pay for the Costs of Assisted Living
The cost of assisted living care in the U.S. is increasingly high. The average rent for assisted living ranges from $2,000 to $5,000 per month, with the national average falling somewhere close to $4,000 per month. Few people can afford this, but many older adults need some help living a semi-independent life, but do...
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