According to a 2021 Gallup poll, less than half of U.S. adults have a will. Setting aside time for drawing up a will isn’t exactly how you want to spend a Saturday when, statistically speaking, you are decades away from having to worry about such things. For the sake of your heirs, having a will […]
Wilmington Delaware Legal Blog
Category: Estate Planning
How may estate planning prevent elder abuse and exploitation?
An unexpected injury or medical condition could leave you unable to manage your affairs. Preparing for this possibility may help you avoid incompetent caregivers from attending to your needs, financial managers from taking advantage of your condition, or family conflict over making certain your wishes and best interests are being met. According to the AARP, […]
2 Ways to plan for your pets in your estate plan
One of the most bittersweet aspects of being a pet owner is knowing that, in most cases, humans will outlive their animal companions by many years or even decades. But while you may frequently think about – and likely dread – the day when your furry friend’s time will come, many pet owners neglect to […]
Key considerations when drafting a living will
If something sudden were to happen to you and you required medical treatment you were unable to consent to, would your loved ones know what to do? If your answer is no, you may want to devote some attention to creating a living will. What is a living will, and what might you be able […]
Many Americans weren’t taught to understand estate planning
Many Americans don’t know enough about the versatility of wills and trusts. This lack of knowledge isn’t their fault, as most Americans aren’t taught much about economic security, asset and property protection, guardianship, and the other legal security an estate plan can provide. First off, the widespread myth that an estate plan is only for […]
When’s the best time to update an estate plan?
Estate planning doesn’t have to be stressful. When you take measures to keep an estate plan up to date, you are ready for anything that might happen in the future. Ideal estate planning should occur after significant milestones in your life instead of left for when you’re older and suddenly realizing you should get all […]
Knowing your net worth holds a high value in estate planning
You’ve worked hard your whole life to provide for your family. But if you don’t have a solid grasp on the worth of your estate, you could be setting your family up for undue hardship. Only 44% of Americans have a will in place to manage their affairs when they’re gone. If you’re one of […]
Probate Glossary: A Key to Legal Terms that Define the Process
So, you’ve been named executor of your loved one’s will, and you’ve no idea what that job involves. In fact, you’re not even sure what probate means. You will probably want to consult with an attorney. But before you do, take a look at this overview of the procedures involved in settling an estate as […]
Surviving Your Spouse: Understand Your Finances and Financial Rights in Widowhood
Losing a spouse shatters your world; it doesn’t have to ruin your sense of financial security as well. Basic estate planning can alleviate some of the burden and stress inherent in settling up affairs after the devastating loss of a spouse. You likely won’t want to think about money or have the wherewithal to make […]
What Is Probate? – Legal Validation of a Will in the Court System
Probate is the legal process of defining a person’s assets, debts, heirs and beneficiaries through the court system after the person has passed away. I know what you’re thinking: “Doesn’t a Last Will and Testament take care of that?” In a word, “no.” But in some cases and for certain assets, you can avoid probate. […]