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Everyone leaves behind an estate. Everything you own, movable and immovable possessions form a part of your estate. Your children will be grateful that you did your estate planning well beforehand and left them with clear instructions about your wishes. It not only reduces the legal hassles but also helps your heirs avoid conflict and reduce costs of inheritance. What Exactly Is Estate Planning? Man is mortal, and there will be a day when he leaves back his mortal possessions. To smoothen the process, you can plan in advance and name the people who you want to leave your things to after you die. The need of the hour is to plan the process well. This is important so that
Fraud, unfortunately, is a common occurrence in life, whether you want it to be or not. Estate planning can create fraudulent interactions between people you thought you could trust. Building an estate plan requires interacting with other people typically, so fraud can occur but there are measures you can take to ensure you don’t fall prey to people’s desire for wealth. This article examines how fraud can affect the planning of your estate and methods you can take to prevent fraud from occurring, complete with case examples. Forging Signatures It can be as simple as catching an unfamiliar signature marring an otherwise flawless will or trust that was supposedly signed by a deceased relative. Suspicions of an invalid signature may
Being parents has always been a tough job. Taking care of your children and making sure that they are safe, has always been the primary cause of concern for all the parents. The same is the case in estate planning as well. For those who have children, they need to make sure that their estate plan primarily includes the financial stability of their children, especially when they are minors. Thus, this article is here to help such parents who need to come up with the best estate plan for their children’s safe future. Some Tips for Estate Planning for Parents There are some very important points that you must consider while taking care of estate planning if you have offspring
Estate planning is said to be the process of disposal of your belongings to the heirs after your demise. It is done in order to safeguard your assets as well as your loved ones’ while preventing any kind of complications. While talking about estate planning, people think it is meant for rich and older folks but the truth is it is meant for everyone irrespective of the wealth or assets you own as it is a must requisite to protect your family’s financial situation while you are alive or dead. Estate Planning- To preserve your wealth, you need the basic documents of the estate planning viz. last will, a healthcare proxy, a power of attorney and a living will. A