Death is inevitable. It is important for you to be aware of how your loved ones will be provided for and what will happen to your assets and debts upon your death. If you do not have a Will, or if your Will needs to be updated, it may be in your best interest to address your concerns now.
Other estate planning documents such as Power of Attorney allow you to dictate who may handle your affairs and Living Will documents allow you to assign a health care agent in the event you can no longer communicate.
In the event a loved one has passed, a multitude of questions may arise. What should be done if there is no Will? How does a Will get probated? How do bills and taxes get paid? How and when should the beneficiaries be paid? What if there is an issue with the beneficiaries?
A child over the age of 18 with disabilities, an elderly parent, or even a spouse, can be incapacitated and in need of a Guardian.
If a Guardian is needed, necessary certifications and court papers must be properly completed and filed. The Guardianship proceeding may be simple or it may be complicated – it depends on the situation.
Tuesday, January 28, 2020