It's doubtful that you'd want a doctor you've never met to make decisions about whether you live or die, or how you live or die. In fact, you may even to shudder to think about certain family members making those choices. Most people would rather make end-of-life decisions for themselves. Especially since in some cases, you may have moral or religious objections to medical treatments.
The probate process is an important consideration for post mortem planning. Upon death, a person's estate is administered through probate court. The probate court judge examines the will, if one exists, for validity. If the decedent did not prepare a last will and testament, in legalese, the person is said to have died intestate.
Probate is a subject that most people ignore or just put off, but it's highly important. Probate is something you most likely would rather avoid, but this process isn't always that easy to skip over - especially if your estate plan isn't adequate. If you don't have any experience with probate, it can be a daunting thing to go through.
Death isn't cheap. There are costs most people don't account for - outside of the realm of funeral and burial costs. To make sure your estate and loved ones don't foot the bill, consider these tips for how to reduce costs your estate will encounter after death.
There are a lot of terms associated with estate planning. While most are readily understood, one of the most commonly misunderstood terms it the fiduciary. Your fiduciary holds a responsibility under the law. Fiduciaries are required to put your needs above their own - both financially and health-wise. When selecting this person, you may want to consider the following.
Retirement is just around the corner and while you think you're ready, you might be surprised at how much you still have left to do. You'll need to be 62 before you can even consider Social Security benefits and over the next 10 years, your situation can drastically change. Before you head off into retirement, consider these last minute tips:
On June 27, Governor Jerry Brown signed into law a bill that limits the state's seizure of assets from the estates of low-income residents ages 55 to 64. This is a good thing.
Prince and Estate Planning -- What We Can Learn
You already know how you want your assets distributed and you have even discussed it with your heirs, but discussing it doesn't make it legal. If you don't create an estate plan, your heirs are free to do what they will, but also they fall victim to taxes, government fees, etc.