A Will contest is a disruptive, but sometimes necessary, tool for preventing mistakes or abuse when a deceased person’s estate is being distributed. However, the reasons this can occur are varied, and range from relatively simple procedural issues to a serious risk of harm or exploitation. Here are five major reasons that Will contests might occur:
Tag: estate planning
Considering the Benefits and Limits of a Living Will
For many, a living will is a highly useful component of their estate plan, helping ensure you receive the care you wanted. However, many people are not aware of what a living will is, or how it could help them. Here is what you need to know about the benefits, and limitations, of a living will:
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When Should You Start Medicaid Planning?
For many people, Medicaid planning is an excellent way to address the problem of paying for long-term healthcare costs, especially after they retire. However, there is always the question of when it is a good time to start preparing to apply for Medicaid benefits. So when should you start Medicaid planning, and what might happen if you wait too long?
How Does Medicaid Planning Work?
Medicaid planning is, for many people, an effective means of preparing for the potential medical costs that come with needing long term care. Medicaid planning can be immensely beneficial, and protect you from needing to pay for your long term care out of pocket. But how exactly does Medicaid planning work, and how might it potentially benefit you?
Seven Common Traps to Avoid When Planning Your Estate
Planning your estate can be more complicated than most people realize, especially if you have a complex estate or a large number of assets. Being careful to avoid potential issues is critical to ensuring you and your family do not face serious trouble when it comes time to administer your estate. Here are seven common traps you should make sure to avoid when planning your estate:
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The Benefits of a Power of Attorney
A power of attorney is an essential part of any estate plan, but a shocking number of people do not have one. Without this critical document, you may face a substantial number of legal issues that otherwise you might have been able to avoid. But what exactly is a power of attorney, and what are the benefits of having one?
Fight Over Murdoch Trust Reveals Estate Planning Issues
A legal fight over the family trust of media mogul Rupert Murdoch has resulted in a surprising loss for the billionaire, which could have significant implications for his family and his business empire. Murdoch, the owner of numerous television and newspaper companies, wanted to change the trust to favor one of his children over the others. However, he has lost the battle, showing the importance of proper and timely estate planning.
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Five Important Things You Should Know About Living Wills
Depending on your exact circumstances, a living will can be an important part of your estate plan. It can make your wishes clear to your loved ones and your doctors, ensuring you receive the care you would want if you can no longer make your own healthcare decisions. Here are five important things you need to know about living wills:
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What Role Can a Living Trust Play in Your Estate Plan?
For some people, a living trust can be an incredibly useful way to organize their assets as part of an estate plan. Not only is it an effective means of distributing your assets, but it can potentially have significant tax benefits and offer other useful protections. But what is a living trust, exactly, and what role can it play in your estate plan?
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Why is it So Important to Have a Power of Attorney?
For many people, a power of attorney is an essential component of an estate plan. With this essential document in place, you will be prepared to face the possibility of needing someone to handle your affairs if you are unable to do so yourself. But what exactly is a power of attorney, and why is it so important to have one as part of your estate plan?
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