Estate planning involves more than just deciding what happens to assets after death. It also requires careful consideration of end-of-life care. Including plans for this care can help avoid unnecessary stress for yourself and your loved ones when late-life health issues arise. Include an advance healthcare directive An advance healthcare directive outlines specific medical treatments […]
Wilmington Delaware Legal Blog
Category: Estate Planning
When to consider updating your will
Creating a will is an important step in securing your assets and ensuring your wishes get carried out after you are no longer around. However, just making a will is not enough. Life is constantly changing, and your will should reflect these changes to remain effective. Major life events If you are one of the […]
Biggest mistakes to avoid when estate planning
Estate planning is an important process that ensures the distribution of your assets according to your wishes after your passing. However, during this process, many people make avoidable mistakes that can lead to complications and legal issues down the road. Procrastinating the process Did you know that only 46% of Americans have a will, much […]
Tips for estate planning in Delaware
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 […]
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 […]