With you no longer in charge, your young adult would be extremely vulnerable in the event they become incapacitated by COVID-19 or another malady and lose their ability to make decisions about their own medical care. Seeing that putting a plan in place could literally save their lives, if your kids are already 18 or about to hit that milestone, it’s crucial that you discuss and have them sign the following documents.
Read MoreThis article offers a brief overview of what serving as a trustee typically entails. If you are asked to serve as trustee, feel free to contact me to support you in evaluating whether you can effectively carry out all the duties or if you should politely decline.
Read MoreThe first step in creating a proper plan is to thoroughly understand the potential consequences of going without one. In the event of your death or incapacity, not having a plan could be incredibly traumatic and costly for both you and your family, who will be forced to deal with the mess you’ve left behind.
Read MoreIf you’re looking to increase your retirement savings, one way to start is to make sure you haven’t lost or forgotten about any old accounts. Here are 6 tips for tracking down a missing 401(k).
Read MoreIf your plan is not getting updated when your assets, family situation, and the laws change, your plan could be worthless. What is more, failing to update your plan can create its own set of problems that can leave your family worse off than if you had never created a plan at all.
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