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estate planning

  • Financial Strategy For Your Child With Special Needs

Creating A Financial Strategy For Your Child With Special Needs

2025-03-25T11:29:05-05:00February 28, 2024|Categories: Resource Center|Tags: , , , |

Creating A Financial Strategy For Your Child With Special Needs

Creating financial strategies for families with special needs children requires careful consideration of both immediate and long-term needs. Parents must plan for their child’s present care, but equally important is preparing for a future where they may no longer be around to manage their child’s day-to-day needs. This planning often begins before birth and should include decisions about guardianship, trusts, and legal arrangements to ensure financial security for the child as they grow older.

The first step in this journey is to understand the child’s diagnosis and the specific challenges that come with it. Parents can benefit from connecting with other families facing similar circumstances, as they can offer advice and emotional support. Once families have a grasp of the present situation, they can shift their focus to the future, ensuring that appropriate legal and financial measures are in place, …

  • blended families

3 Estate Challenges for Blended Families

2025-03-25T12:05:01-05:00April 6, 2023|Categories: Resource Center|Tags: |

3 Estate Challenges for Blended Families

Estate planning can be a complex process, especially for individuals in blended families, which typically consist of couples with children from previous relationships. Blended families introduce unique challenges when it comes to deciding how assets will be distributed after death. In these families, where both new children and stepchildren are involved, estate strategies must be carefully thought out to ensure fairness and clarity. Below are several case studies that highlight key issues that blended families often face in estate planning.

Case Study #1: Children from Previous Marriages
A common mistake in estate planning is using a simple will that leaves all assets to the surviving spouse. This type of will can inadvertently overlook children from previous marriages, leaving them without an inheritance if the surviving spouse decides to alter the will. In blended families, estate plans must take into account both biological children and stepchildren, …

  • Three People on Edge of the River, Estate Strategies, Estate Strategies - Critical Elements of an Estate Plan

Estate Strategies – Critical Elements of an Estate Plan

2025-03-26T08:12:34-05:00December 12, 2019|Categories: Resource Center|Tags: , , |

Estate Strategies – Critical Elements of an Estate Plan

Estate Strategies – Critical Elements of an Estate Plan

Taking steps to protect your estate is an important financial decision. Proper strategies can maximize opportunities and reduce stress for your loved ones. Yet, around 50% of people over 50 don’t have a will, even though almost 60% of Americans plan to leave an inheritance. By creating an estate plan, you can put your financial house in order and save money. Documenting your wishes ensures that your family won’t face a costly and lengthy probate process, and it helps make sure your legacy is honored.

A will is essential for outlining how your assets will be distributed, naming an executor, and designating guardians for minor children. However, wills can be contested in court, which is why additional documents like a letter of intent can be helpful to clarify your intentions. A power of attorney …

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