Often an aging parent will lose their ability to think clearly or make informed decisions about their life. This may occur because of dementia, mental illness, stroke, brain injury, or other severe health or disability conditions. Your parent may or…

Among your key estate planning documents are your will, living wills, powers of attorney, and medical directives. Securing these somewhere your survivors can easily access them is crucial. Consider storing other information, like birth certificates, marriage licenses, and medical records,…

Deciding to end a marriage as an older adult is increasingly common. If your marriage ended later in life, you could be part of the “gray” divorce trend. AARP reports that Baby Boomers, those born between 1946 and 1964, are the…

The great wealth transfer is underway in America. Through 2045, Baby Boomers will pass down assets worth roughly $84 trillion to Gen Z, Millennials, and Gen X. What constitutes a high-net-worth (HNW) inheritance? In the United States, that number averages…

In estate planning, the executor, or personal representative, is responsible for managing the administration of the estate after an individual passes away. An executor may be a person or an institution. Their duties include applying for probate and ensuring that the heirs…

When someone passes away, the probate process ensures that the deceased’s estate fulfills its debts and that the heirs receive their assets. The deceased’s will dictates how to settle and distribute their assets and debts. (If no will exists, state intestacy laws apply.)…

Everyone should have a durable power of attorney in place that appoints someone to act for them if they become unable to do so. However, in some circumstances, this legal document may not be enough. In these cases, setting up…

While it is important to have an updated estate plan, there is a great deal of information that your heirs should know that does not necessarily fit into a will, trust, or other documents. The solution is a letter of…

Four in 10 people believe they do not have enough assets to make a will, according to Caring.com’s 2024 Wills and Estate Planning Study, which surveyed more than 2,400 individuals. This statistic reflects a common misconception about estate planning: that it…

Many people seek to avoid situations in which life is unnecessarily prolonged. Subsisting on expensive life-support long beyond when treatment might improve one's quality of life can be cruel. With advance directives, including living wills and powers of attorney, you…