There’s No Better Time than Now to Get Your Affairs in Order

The COVID-19 pandemic has forced us to slow down and self-quarantine. Some people are using this time to connect with family, clean closets or binge-watch a television show. However, this health crisis also provides time that can be used to determine what is best for your future. In other words, this is a great time to get your affairs in order by creating an estate plan. Elements of an Estate Plan An estate plan is one that addresses your current and future financial needs, assigns persons to make financial or medical decisions in the event that you are incapacitated, and designates how...

11 February

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Getting Your Affairs in Order for 2020

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The New Year often brings with it a time of reflection and planning. It is also a great time to get your affairs in order to assure that your medical and financial needs will be managed as you choose and to assure that your estate will be dispersed according to your wishes. Taking care of these matters now allows you to make thoughtful plans for various needs rather than rushing to address them while also coping with serious medical or financial issues. Or worse, waiting too long and leaving everything in someone else’s hands. What it Means to Get Your...

16 January

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The Importance of Advance Directives

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What is an ancillary estate planning document and why is it important? Estate planning ancillary documents are supportive documents that relate to and reinforce a main document, usually a trust or a will. Essentially, these documents work to make sure all life planning bases of an individual are covered in as many life and aging events as possible. They serve as an additional way to secure the decision making medical and financial needs and importance of legal and other documents. For estate planning purposes, the most important ancillary documents are as follows: Do Not Resuscitate (DNR) (Living Will) Organ Donation (Usually already...

02 January

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The Differences Between a Will and a Trust and What You Should Know

Posted by jefftotty

in Necessary Forms

When taking the first steps in estate planning, the question of whether you need a will or a trust will arise immediately. When answering this, keep in mind that a will is a legal document you leave to direct your beneficiaries exactly how you want your property dispersed and your affairs handled after death. While similar, a trust is a legal document that secures your assets under trust ownership and allows for a third-party to become a trustee over the trust, naming a beneficiary to receive property through said trustee. As a result, a trust ensures the security of specified...