Seniors often worry that they’re going to leave behind a lot of debts for their heirs – with good reason. It’s estimated that 73% of people in this country will die owing somebody money. If your final expenses include an extended hospital stay, that could easily run...
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Estate Planning
3 facts to know about estate planning
An estate plan allows people to instruct how their assets are handled after they pass away. There are many things people should know before they plan their estate. Here are a few estate planning facts you should know: Fact 1: Beneficiaries and heirs are different...
Preparing your options for end-of-life planning
End-of-life planning is a way of preparing for what you want to happen when you die. It can help you avoid stress and confusion in your final days. If you're going to prepare for your end-of-life care, you may want to consider some options for end-of-life planning....
How regularly updating your will can stop probate issues
Dealing with probate issues can be overwhelming for executors, heirs and beneficiaries and as the testator, you will not be able to do anything by then. However, you can still do something now to prevent those issues from happening in the future. Ensuring a smooth...
Planning for debt payout through life insurance proceeds
When you are gone, you want to ensure that you will not leave your loved ones with the financial burden of your debts. Life insurance can provide that peace of mind. However, planning for the financial well-being of your loved ones after your passing involves more...
Can you truly “cut someone out of your will”?
No matter how much you try to love and support a family member, they can continue to disappoint you when they refuse to fix their issues. Sometimes, ending the relationship with them is the only way. Cutting out or disinheriting someone from a will involves more than...
Mistakes to avoid when creating your will
Creating a will is essential in protecting your estate and ensuring your assets go to your intended beneficiaries. However, it would help to be careful, as mistakes can lead to an invalid will. The following are examples of errors you might want to avoid: Ignoring...
Why should new parents make a will?
The thought of leaving your minor child vulnerable should you unexpectedly pass away must be compelling reason enough for you, or any other new parent, to make a will. A will is a legally binding document functioning as a safety net, allowing you to decide your...
A guide on securing a spendthrift trust
A spendthrift trust protects an inheritance from being squandered away by the beneficiary or from being collected by a beneficiary’s creditors. It is a good option if you are keen on securing your assets. How can spendthrift trust help you? It is vital to preserve...
Protecting your assets from long-term care costs
Protecting assets from long-term care costs is essential to estate planning. In Arkansas, long-term care can be quite expensive, with nursing home daily costs averaging around $220. Medicaid can be an option for covering these costs, but it has strict eligibility...