What may have seemed like something to take care of ‘one day,’ has turned into a basic necessity that makes it essential and necessary for you to encourage your clients to act now.
The COVID-19 crisis isn’t just costing Americans their freedom and jobs; it’s also forcing millions to contemplate their own mortality.
Under Illinois law, an individual holding a power of attorney is a fiduciary as a matter of law. The person designated as a power of attorney agent owes a fiduciary duty to the principal—the person making the designation.
An End-of-Life Checklist can avoid any confusion or questions that may arise among different family members.
Estate planning involves making a plan for the transfer of your property upon your death or incapacity. Your estate is all of the property you own, which can include cash, jewelry, cars, houses, clothes, land, retirement, investments and savings accounts. The goals of estate planning are to make sure most of your estate is transferred to your beneficiaries, you pay minimal taxes on the estate and children are assigned guardianship.
The list of wealthy black celebrities who have died without a will in place is a significant one. Names on the list include Prince, who died with a net worth of about $300 million without having a will. So did John Singleton, Aretha Franklin, Jimi Hendrix and the great Bob Marley, to name but a few.
The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.
It’s never too early to start estate planning. If you already have a family, getting your personal affairs in order is a must. The sooner you start planning, the more prepared you will be for life’s unexpected twists and turns.
She can only mouth words and nod her head, but a bed-bound, 91-year-old Long Island woman has made herself clear — she does not want to be taken off the machines that keep her alive.
Turning 65 is a major milestone for many Americans, as it is the traditional age at which they start thinking seriously about retirement.