Estate Planning Answers

Q: A close family friend had a stroke and became immobilized. The high costs of his caregivers have now depleted almost all of their family’s assets. They are now selling their home and are headed into poverty. We don’t want this to ever happen to our family. How do we protect ourselves? - L.R., Michigan  A: [...]

In putting together your estate plan, some of the toughest decisions you’ll need to make are your appointees. For setting up a trust you’ll name the trustee and successor trustee. If you’re setting up a revocable living trust, then the task of naming the initial trustee is not so hard. Usually, the trustee is you, [...]

Q: We’re an unmarried couple, and have different financial circumstances. What suggestions do you have for developing our estate plans? - R. W., Ohio  A: The laws are not set up to protect or even consider the interests of a significant other who is not married to you. However, you can take some steps to put [...]

Q: We’re in the process of updating our estate and financial plans and all the rules seems so confusing, especially those on trusts. Are trusts something we need? Can you give us some ideas and guidelines?  – R.S., California  A: Do you want to make sure your family is specifically provided for if you become [...]

Q: Next month we’re moving to a new state and we’ve begun reviewing our insurance policies and coverage. Is it important to check out the insurance companies, and if it is please provide us with some guidelines on doing it? - K.P., North Carolina A: Yes, in today’s world it is important to evaluate the financial [...]