Estate planning is often looked upon as a purely financial endeavor. You facilitate postmortem asset transfers to your loved ones, and that’s the long and short of it. In reality, there is another important factor to consider, and we will examine it in this post. Cognitive Impairment and Physical Incapacity Elder law and estate planning attorneys have to address some realities that a lot of people do not like to think about. Even if you wish it was not so, you cannot change the nature of … [Read more...] about Take Proactive Steps to Prevent a Guardianship
Estate Planning For Domestic Partners
"Intestacy" is the term used when one dies without a valid last will. Some people are under the impression that the government takes your property if you die estate. The reality is that legal rules of descent determine who will inherit your property. If you are married your closest relative is your surviving spouse and he or she will inherit some or all of your property, depending on whether you have children, if you die without a will. This does not mean there's no reason for you to … [Read more...] about Estate Planning For Domestic Partners
Are Your Assets In Harm’s Way?
When devising a comprehensive long-term financial plan, it is important to take steps to protect your assets. Individuals in certain professions are naturally vulnerable to creditors and claimants and, if you do not take action to shield your personal resources, the consequences can be devastating. … [Read more...] about Are Your Assets In Harm’s Way?
Understanding Guardianship Proceedings in Probate Court
Overland Park probate attorneys provide assistance with all different issues that arise in probate court. While many people are aware of the need to go to probate court after a death has occurred so assets can transfer to new owners, this is not the only situation where probate proceedings may be necessary. It may also become necessary to go to probate court if a loved one has become incapacitated without an incapacity plan in place. Under these circumstances, going … [Read more...] about Understanding Guardianship Proceedings in Probate Court
How Does a Court Choose a Guardian or Conservator?
Since we are often asked about guardianships and conservators, we thought we would take a closer look at the legal process involved in choosing a guardian or conservator. What happens? What will the court do? What can you do? While the answers to this question will differ slightly depending on where you live and the individual circumstances you face, there are general principles that apply to almost every situation. Today we will answer some of these questions so you will … [Read more...] about How Does a Court Choose a Guardian or Conservator?
Guardians, Conservators, and More – What Does a Guardian/Conservator do?
We recently began a multi-part discussion on guardians and conservators by looking at some common questions. Today we want to expand on that discussion by taking a close look at the duties of a guardian or conservator. What does a guardian do on a daily basis? What duties can a conservator expect to perform? Let's take a look. Guardians, Conservators, and More: What does a guardian do? Guardians protect the interests of the incapacitated ward because the ward is legally incapable of … [Read more...] about Guardians, Conservators, and More – What Does a Guardian/Conservator do?
Estate Planning For Millennials
When it comes to millennials, estate planning is almost certainly near the top of the list of topics they rarely, if ever, think about. Around half of all Americans have created an estate plan, but the percent of young adults who have done so is far lower than that. Nevertheless, millennials face a host of estate planning issues that members of older generations don't, or at least not to the same extent. Today we are going to look at several estate planning issues that millennials need to … [Read more...] about Estate Planning For Millennials
Affluenza, Inheritances, and Legacy Wealth Plans
The notion of affluenza came into the public spotlight last year after a teenager in Texas was involved in a drunk driving collision that resulted in the death of several people. One of the witnesses raised the notion of affluenza to explain the teen's actions. In this context, affluenza was used to show that a person raised in an affluent environment might have a diminished ability to understand the consequences of his or her actions. Even though the attorney in the affluenza … [Read more...] about Affluenza, Inheritances, and Legacy Wealth Plans
What You Need to Know Before You Hire an Estate Sale Liquidator
Last week we took a look at what estate sale companies, or estate liquidators, do when they are hired to sell property. This week we thought we would provide more information that might help you if you need to hire such a company to sell your property. Not all estate sale companies are created equal, and choosing the right company can take some time. Here are several tips you can use if hiring an estate sale company to help you. Research the Estate Liquidator According to … [Read more...] about What You Need to Know Before You Hire an Estate Sale Liquidator
Free Report: Why Oklahoma Estate Planning Is Important For Your Family – Part2
One of the most important topics that estate plans allow you to address is the question of inheritance. Like many other estate planning issues, the state already has laws that determine your inheritance choices. Many people are surprised by this fact. For example, you might be surprised to learn that should you die, your spouse might inherit all or a significant portion of your property even if you specifically stated you wanted others to inherit from you specifically stated you wanted others to … [Read more...] about Free Report: Why Oklahoma Estate Planning Is Important For Your Family – Part2