Do you expect your parents to leave you a financial legacy? Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by financial services company HSBC. Perhaps the bigger question, though, is how to even approach this topic with your parents.
Cindy, a widow in her early 60s, was undergoing physical therapy for an injury to her foot, making it difficult for her to get around. In addition, she was suffering depression brought on by the immobility and pain, resulting in her neglecting to pay bills and taking care of other financial affairs.
Each year, senior citizens lose billions of dollars to financial fraud, with the loss to individual victims averaging tens of thousands of dollars.
If you pass away with no will, a state court may decide who gets your assets and — if you have children — who will care for them.
Covid-19 or Coronavirus has created health worries and fear for everyone. For those with underlying health issues, which include multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, or other brain diseases, those concerns are even more pronounced.
The proliferation of digital footprints in our online communities raise demand for consumer tools and options for dealing with digital assets upon incapacity and death.
One of the key functions of the family law system is to ensure that children are looked after appropriately. This is the basis for the doctrine of legal guardianship.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
