Because many people with disabilities require substantial care and support, it is essential to plan for their financial and other needs carefully. Special needs trusts and ABLE accounts are two tools that you can utilize. What are these tools and how do they differ?...
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Estate Planning
Is estate planning necessary when you are single?
If you are single and do not have any children, planning your estate might seem excessive and unnecessary. However, being proactive about your future is a responsible decision regardless of your status. Estate planning can add value to your life and encourage you to...
Helping your children manage their inheritance
Leaving a substantial inheritance to your children is a generous and thoughtful gesture, but it can also come with its share of challenges. Without proper guidance, young heirs may struggle with managing their newfound wealth and make costly mistakes. Here are some...
What do executors have to handle?
The executor of an estate has a very big job to handle. This is why it is crucial to pick a person who you can trust, and who can handle the weight of the position. But what exactly do executors have to do, anyway? Management of finances Forbes takes a look at the...
How to designate financial and medical powers of attorney
When creating your estate plan, you can include a section that names people with powers of attorney in case you cannot make important decisions for yourself. Making a power of attorney designation is useful when planning ahead for medical emergencies and end-of-life...
Protect your estate plan from common mistakes
The value of an estate plan can provide you with ongoing support throughout your life. In addition to protecting your assets, a functional plan can also give comfort and guidance to your surviving family members. Making mistakes while you plan could jeopardize your...
What to consider when choosing a successor for your business
Business succession planning is a necessity for small business owners and entrepreneurs of all flavors. Arranging your affairs in preparation for a successor ensures that you can smoothly exit the company when you decide to retire and also prevents a worst-case...
What are some things you cannot do with your will?
A will is an important estate document. But despite how vital it is, a will is not able to do a few specific things. The American Bar Association notes the main point of a will is to determine who gets your assets after your death. It can also express your wishes and...
3 keys for successful farm succession planning
Farming has solidified itself as the heart of Indiana. As the farmer doing the work, it means more to you than just a job. According to the Glass Barn Education Center, 96% of the nearly 56,000 operations are in Indiana. As your retirement grows closer, establishing a...
3 steps for creating a special needs trust
Parents of children with special needs likely have many questions about who might care for their offspring if they pass away unexpectedly or become too ill to care for them. These individuals might obtain greater peace of mind by creating a special needs trust that...