When a young couple makes the momentous decision to get married, it often sets off months of planning that will undoubtedly leave them feeling satisfied yet completely exhausted after their walk down the aisle.
There is nothing wrong with wanting to save a little money where you can. Being responsible with your finances can lead to many positive rewards. However, it remains important to know when it makes sense to save and when it makes sense to spend. Failing to spend a bit of money where you need to can lead to disastrous consequences.
Did you know that the social media site Facebook offers users the option to designate a legacy contact? Essentially, a legacy contact is granted access to the user's account after he or she has died. This contact may then post to the user's timeline, update pictures and respond to certain requests on behalf of the user's account. Does this arrangement strike you as silly, odd or brilliant?
The modern American family is not constructed in any set pattern. While at one point in time the typical American family consisted of two married parents and many children, that construction eventually shifted to two married parents and a few children. Currently, the modern American family has no “typical” size, number of members or relational structure. Now, the prevalence of divorce, adoption, remarriage and a host of other factors have led the American family to emerge in a variety of forms.
Sometimes a process can be so overwhelming that focusing on the foundations of that process can help to make it more manageable. The process of estate planning can certainly be overwhelming and foreign. Therefore, it can help to focus on the basics and allow your attorney to guide you through any complexities or confusing nuance that you may encounter.
Each time a new year is ushered in, Americans are reminded to refocus their intentions, act in accordance with their values and set priorities. It is perhaps for this reason that many individuals either draft or review their estate plans at the beginning of the year. When thinking about the future, it is not difficult to be reminded that one day our interests will need protecting in very different ways.
We frequently write about the importance of creating an estate plan. An estate plan allows you to make your wishes about medical care, guardianship of your minor children and property known. Once these wishes are drafted in a legally enforceable way, they will generally remain protected and respected.
If you are thinking about creating an estate plan, you are making a thoughtful and brave choice. It is not always easy to contemplate death and the potential for a time when you remain alive but are unable to make financial and medical decisions for yourself. At its core, estate planning is a matter of self-respect and concern for the people and causes that you care most about. By drafting an estate plan, you are making your wishes known and taking a burden off of your loved ones, who will now know exactly what you want and how to enforce those wishes.
As you approach the end of the year, you are likely tempted to take stock of the year that is passing and to think ahead about the year to come. This time of transition inspires many individuals to contemplate the past 12 months and to consider the possibilities of the next 12. It is therefore not unusual that many individuals are inspired to either craft or revisit their estate planning documents at this time of year.
There was a time when the process of estate planning for most Americans simply consisted of drafting a simple will. However, as assets have become more complex, healthcare has become more focused on personal choice and technology has evolved, a simple will is no longer the only estate planning tool that most Americans need to concern themselves with.