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Why an Estate Plan Is Beneficial Aside from preventing family fights and possible financial turmoil for Thorough estate planning can protect your family from financial hardships after your death. By taking the time to sit down with our team at Your Legacy Legal Care, you’ll avoid many potential financial

Beneficiary designations on financial accounts rule over what you state in your Will. on your Will from your ex-spouse to someone else, but not your beneficiary designation within your financial It is always best to review your beneficiary designations on any financial account you own (checking,

durable power of attorney, on the other hand, gives a representative the opportunity to manage their financial It allows parents to continue making medical, financial, and residential decisions for their child even

Elant also acknowledged scheming to move long-term patients to one of its financially troubled nursing homes to improve its financial condition.

inherited retirement accounts so you can rest easy knowing your loved one’s legacy is honored, and your financial Inherited retirement accounts are financial accounts that pass from one person to another when the original This can help you get a better picture of what your financial plan should be for the IRA funds. You can carry on the legacy of your lost loved one while you secure the financial future of both yourself

They cover only health care decisions; other documents can be created to help with financial decisions These legal documents can also play a crucial role for families planning for the health and financial

include: Statutory Durable Power of Attorney: This document allows you to appoint someone to manage your financial Durable Power of Attorney is a legal document that gives someone you trust the authority to handle your financial They should be trustworthy, responsible, and capable of handling financial matters. Don't hesitate to ask for referrals from friends, family, or financial advisors.

Undue Influence/Fraud —  Undue influence can occur when a beneficiary, caregiver or another person with Fraud can occur when the testator is provided with a number of documents to sign at the same time while

Some financial assets like the family business could work to earn you an income until your retirement Your Financial Advisor May Recommend Keeping Your Assets Low Have you ever heard of an inheritance tax Financial advisors may inform you to only accept inheritance to avoid the burden of paying taxes. reviewing your estate plan with an experienced estate planning attorney, some assets simply have no financial

Retired households with at least $100,000 in financial assets save 31% of their income, on average, according Saving is becoming a bigger part of retirees’ financial plans, especially with defined-benefit pension

Designating Beneficiaries on Financial Accounts By designating beneficiaries on your financial accounts It’s important to note that the rules and options for adding beneficiaries may vary depending on the financial

However, The Pittsburgh Post-Gazette says in a recent article, “Financial planners: Prenuptial agreements It should be done well in advance of the wedding, and when considering a prenuptial agreement, the fiancée Reference: Pittsburgh Post-Gazette (July 29, 2016) “Financial planners: Prenuptial agreements shouldn