Today more young adults are living at home with their parents than at any time since the 1940s. While there are many different opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finances. Most adult children who still live at home have future plans to move out at some point. However, … [Read more...] about What Happens to An Adult Child Living at Home When Their Parents Pass Away?
What to Do When a Disability Throws Your Estate Plan into Chaos
As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency in life. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to reevaluate the core assumptions you used to plan your future and set up your legacy. According to the … [Read more...] about What to Do When a Disability Throws Your Estate Plan into Chaos
What You Can Learn from the Leno Conservatorship Proceedings
When most people think about creating an estate plan, they usually focus on what will happen when they die. They typically do not consider what their wishes would be if they were alive but unable to manage their own affairs (in other words, if they are alive but incapacitated). In many cases, failing to plan for incapacity can result in families having to seek court involvement to manage a loved … [Read more...] about What You Can Learn from the Leno Conservatorship Proceedings
Why Snow White’s Father Should Have Had an Estate Plan
Many of us are familiar with the story of Snow White and the seven dwarfs. Central to the story is the relationship between Snow White and her stepmother. After losing his wife, the king decided to marry again to provide a motherly influence for his daughter, Snow White. While things were peaceful for a while, once the king passed away, the Queen’s true colors came to light. Feeling threatened … [Read more...] about Why Snow White’s Father Should Have Had an Estate Plan
After Your Death, Who Takes Care of the Dog?
A pet trust designates a new guardian for companion animals and sets aside funds for their care. Better yet, it’s legally binding. In 2016, Tracy Jennings received shocking news: A lifelong friend, a woman who had a farm with animals great and small, had died suddenly in an accident. A circle of grieving friends hastily arranged new homes for the woman’s beloved animals, including three … [Read more...] about After Your Death, Who Takes Care of the Dog?
Surviving Spouses May Not Be Responsible for Partners’ Medical Bills
A call from a debt collector may add to the challenges that bereaved people are already dealing with. But spouses “should not assume that they have to pay.” The death of a spouse can be devastating, and in the aftermath, calls from collection agencies about medical bills and other debts could not come at a worse time. But surviving spouses may not be responsible for unpaid medical bills, … [Read more...] about Surviving Spouses May Not Be Responsible for Partners’ Medical Bills
