There may come a day when you need medical care but you aren't in a position to make your own medical decisions. Maybe you are in a coma because you were in a car crash, or maybe you suffered a pulmonary embolism. Any medical event that renders you unconscious or...
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Estate Planning
What’s the difference between heirs and beneficiaries?
You often see people use the words “heir” and “beneficiary” interchangeably. They’ll say things like “I need to list my beneficiaries in my will to ensure that my heirs get the right assets.” The idea is that the two terms are just different words for the same thing....
How to create a living will
Maybe you’re getting older, and you realize you need a plan for the future -- or maybe the events of the last few years have made you more conscious of your mortality. Either way, a living will is a good idea. A living will is a written declaration that helps clarify...
Pay special attention to your art in your estate plan
If you own artworks, you need to remember to include them in your estate plan. They may be among the most valuable things you own. They may require special treatment due to their nature. There are several ways to deal with art in your estate plan. You could place...
Who should benefit from your life-insurance policy?
If you decide to get life insurance, one of the benefits is that your loved ones can receive a payout after you pass away. Life insurance can be extremely helpful in covering the cost of your funeral as well as with other financial issues following your death....
Can you leave stocks to your children?
If you have many of your assets tied up in stocks, your goal is to maximize your earnings. You may be taking a long-term approach, so you worry that pulling the money out early is quite literally going to cost you. At the same time, you’re doing your estate planning....
What to look for in an agent for your power of attorney
When choosing someone to be your agent through a power of attorney, it’s important to have the right person for the role. It’s common to pick a close family member, and this may be best, but you still want to carefully consider the traits you’re searching for. There...
When should you update your New York estate plan?
Most people create an estate plan at some point in life to prepare for what will happen to their loved ones and assets when they are no longer alive or when they are incapacitated. Sometimes, estate plans are created or updated in response to changes to the...
What should you include in your long-term care plan?
Whether you are beginning to look into long-term care plan options for yourself or someone you love, it’s important to consider the many parts of a long-term care plan and to decide which topics you need to discuss. Long-term care planning includes many different...
What you can learn from Bill and Melinda Gates’ inheritance plans
Bill and Melinda Gates made headlines when they decided to get divorced. Bill, who was once the richest man in the world, is the head of the Microsoft computer corporation. His vast wealth needed to get divided when the couple chose to split up. Interestingly, the...
