Why Don’t Most Americans Have an Estate Plan?
November 30, 2022
Just 34% of adult Americans have an estate plan at the ready.
Just 34% of adult Americans have an estate plan at the ready.
Although laws vary from state to state, every state requires that less restrictive alternatives be considered before invoking a guardianship. These might include such vehicles as limited guardianships, powers of attorney or assisted decision-making agreements.
A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust’s assets are split up after the surviving spouse dies.
Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.
Death, while inevitable, is not often predictable. This can leave many people financially unprepared if their spouse suddenly dies–especially if the deceased was the one that took care of the household balance sheet.
Naomi Judd left her daughters, performers Ashley Judd and Wynonna Judd, out of her will according to multiple reports.
Even Consumer Reports suggests working with an experienced estate planning attorney to make sure documents are correctly prepared.
A trust is an estate planning tool that you may consider using if you want to go beyond drafting a last will and testament.
What do these appointments mean to the person(s) named to act? What happens if they fail or decline to act? Can the planning appoint alternative representatives?
Does a person need a Power of Attorney document if that person already has a Last Will and Testament (‘Will’)? It is a good question.
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028