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More and more seniors are winding up dying broke and/or heavily in debt. If you are an adult child of an aging parent, you might be named as the executor of your parent’s estate. When they die without resources and owing plenty, you can find yourself in a financial...
Month: October 2020
Most estates in Florida will have to go through probate
For people trying to plan their estate or last will, sometimes they have a negative goal instead of a positive one. Instead of trying to achieve something through estate planning, they are trying to avoid something. Specifically, many testators want to avoid probate...
Caregivers can provide undue influence on an elderly person
The person who provides care for your loved one as they age is in a position of authority. The more dependent your aging loved one becomes on a caregiver, the more power that other person has. Whether your family member moves in to a nursing home or they marry a much...
Can you ask your parents about their estate plans? Here’s one approach to try
Understandably, many adult children start to wonder if their own parents have done any estate planning. They’re just realistically considering the fact that their parents won’t be around forever and wondering what they’ll need to do when that day comes. However,...
The upside to an incentive trust
One of the most controversial types of trusts is an incentive trust. It’s not ideal for every family or every situation. However, it is a powerful tool when doing your estate planning, so it’s worth considering. What Does It Do? The incentive trust will give...
4 elements that are often overlooked in estate plans
Crafting a comprehensive estate plan can be challenging for several reasons. Not only does the process take time and mental effort, but it can extract an emotional toll as people begin to make decisions based on their own mortality. Unfortunately, with everything that...