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Estate Planning Archives

These estate planning steps could ensure wishes are followed

Delaware residents who wish to "get their affairs in order" need to take certain steps to ensure that their wishes are followed. Estate planning in and of itself does help, but if mistakes are made, it could undo the efforts. In order to help ensure that everything goes according to plan when the time comes, it may help to keep the following in mind.

Not married? Protect each other through estate planning

Considering the high number of Delaware couples who divorce, a couple may decide that marriage is not for them. They believe that a document will not change the nature of their relationship, so why bother. That may be the case for a marriage license, but when it comes to estate planning, those documents could make all the difference.

How estate planning helps at different stages of life

Are you a Delaware resident and a legal adult? Then the odds are that you need an estate plan. Even if your career is still getting off the ground or you are right in the middle of it, you could benefit from estate planning. If you are reaching or are at retirement age, you can also benefit from putting your wishes in writing.

Start your estate planning now. Waiting could be costly

Delaware's young couples who are just beginning their parental journey probably spend most of their time focused on the present and the near future. Raising young children takes a great deal of commitment, and life can be hectic at times. Because of this, they may not have their minds on the possibility of not being there for their children and fail to take the time to consider estate planning.

Use estate planning to provide for a pet after death

Many Delaware residents take steps to provide for their spouses, children and even charities after their deaths. However, there is someone else who needs protection and provision as well -- the family pet. Estate planning can provide for the fate of a pet after death.

Delaying estate planning could be costly for family members

How often do Delaware residents hear that they should "get their affairs in order" before it is too late? Even so, a large percentage of the population of the state -- and the country for that matter -- delays engaging in any estate planning. The reasons for this are numerous and vary from individual to individual, but failing to have some sort of estate plan in place often ends the same way -- with surviving family members potentially losing out on an inheritance because they end up spending valuable assets from the estate going through the courts.

Careful estate planning is needed for special needs children

Many special needs children become special needs adults. For the Delaware parents of such an adult, planning for his or her physical and financial security is a priority. That planning needs to extend beyond the lives of the parents, which means that estate planning also becomes a top priority.

Estate planning for an uncertain future

More than a fear of dying, many Delaware residents fear that they will reach a point in their lives when they will not be able to make sound decisions for themselves. They may wonder what will happen if an injury or illness causes them to be incapacitated. Fortunately, estate planning can help prepare for an uncertain future.

How estate planning could affect Hugh Hefner's widow

As most people in Delaware probably already know, Playboy magazine founder Hugh Hefner recently died at the age of 91. What many people may not have known is that Hefner was married in 2012. According to press releases, Hefner's estate planning provides for his widow, but does not provide her with an inheritance from his estate. Considering the state of many celebrity estates that have been in the news, sources can only guess at how he accomplished this at this point.

Save your family from going to court through estate planning

The possibility of becoming incapacitated exists for every Delaware resident. No one knows when they will suffer serious injuries or contract a debilitating illness that makes it impossible to take actions regarding health care and finances without help. If the appropriate estate planning is not undertaken, family members could end up in court spending valuable time and money obtaining permission to act on your behalf.

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