Tag Archives: estate planning and children
What to Do When Your Heir Might Blow Their Inheritance
You have worked hard all your life to generate wealth and wish to devise your estate to your children. But what do you do when you suspect a designated beneficiary could blow their inheritance? We all hope that our children will respect the money they inherit, but sometimes their personalities and specific circumstances make that […]
Estate Planning Tips for the Sandwich Generation
If you are part of the “sandwich generation”—people with both aging parents and minor children of their own—it may be time to consider you and your parents’ estate plans. Many middle-aged adults are putting their own retirement needs aside to care for their aging parents. Sitting down to discuss your parents’ long-term care needs and […]
You May Need to Change Your Estate Plan As Your Children Grow
Many people first consider estate planning once they have their first child. It is great to take the initiative to develop an estate plan once you have heirs to consider. However, it is equally important to make sure you update your estate plan as your children age and your own needs change. When your children […]
How to Notify Trust Beneficiaries as an Estate Administrator
If you are serving as the successor trustee of a living trust, one of your primary responsibilities is to notify the trust beneficiaries of the passing of the settlor, the person who created the trust. In a simple letter to the beneficiaries, you must communicate the following basic facts: The living trust has become irrevocable […]
How Do Florida Courts Appoint Guardians for Incapacitated People?
A guardian is a legal decision maker appointed by the court to make financial or other personal decisions on behalf of a ward. There are several circumstances in which a guardian may be needed: A minor’s parents are unable or unavailable to care for the child An adult has been incapacitated due to injury or […]
Tips for Protecting Children with Disabilities in Your Estate Plan
If you are the parent of a child with a disability, you must ensure you can continue looking out for your child’s best interests, even when you are no longer here. Without the proper stipulations in place in your estate plan, your child with special needs or disabilities could be left vulnerable. Below are some […]
Key Estate Planning Tips for New Parents
The moment you become a parent is the same time that creating an estate plan becomes much more urgent. Many of new parents are unfamiliar with the strategies and tools associated with estate planning, making it somewhat of an overwhelming experience. However, estate planning does not have to be overwhelming. The following are three simple […]
How Estate Planning Affects Your Children
From your children’s first day of school to their college graduation, you strive to prepare them for any situation. However, many parents forget about one of the most important ways that they can look after their kids — an estate plan. Through your will, you can outline exactly who your children’s legal guardian should be […]