Regardless of one's age and health, the future can be uncertain, which is why it's important for individuals in the Washington, D.C., area to secure their loved ones through a life insurance policy. However, opening a life insurance policy can leave a person with many...
Estate Planning
Estate Planning
Benefits and downfalls of a springing POA
At some point in our lives, most of us will need a Power of Attorney to help us navigate medical decisions and financial choices. A good Power of Attorney can help a disabled person protect themselves and their assets. But what if you don’t need POA right now but will...
Be aware of power-of-attorney hurdles when estate planning
Having a power of attorney, otherwise known as a POA, can be extremely useful. If you're incapacitated in Washington, D.C., a POA allows someone to make financial or medical decisions for you. Unfortunately, a lot of people don't know about the limitations of a POA....
Do you have to divide your estate evenly?
Many families have one or more "black sheep" who tend to make their own choices without taking the family's opinions into account. Estate planning can be difficult when including black sheep in your will. If you're a Washington, D.C., resident in the process of...
When should you update your will?
While many times the estate planning process is talked about as a one-time deal, that's not the truth. Residents living in Washington DC should continually update their will to help ensure that it not only stays valid but that it's less likely to be overturned if it's...
What should you avoid when writing your will?
When you start writing your will in Washington, D.C., it's important not to make any assumptions. Even if your friends and family know what you want, it's not legally binding unless you include it in your will. Mistakes may mean that the asset distribution might not...
Is an e-will right for you?
Residents of Washington, D.C., and other states are taking advantage of electronic wills. Also termed e-wills or digital wills, these documents are constructed and signed online so that they can be easily changed by the grantor or accessed by family members of the...
The various types of trusts that you can choose from
Many Washington, D.C., residents wait to undergo the estate planning process because they feel overwhelmed by it. The reality is that estate planning can be a fairly easy process when you understand what is involved. One of the biggest aspects of estate planning that...
What are some less common aspects of estate planning?
A comprehensive estate plan in Washington, D.C., is much more than just a will. In fact, some aspects of your estate plan can't be covered by your will at all. With the help of an attorney, you'll need to prepare a set of official documents that plan for the end of...
Things to consider when writing your will
Your estate plan can bring you peace of mind as a resident of Washington, D.C. When you write an estate plan, it's important to get everything right because you won't be able to change it after you're gone. A simple mistake could cause a lot of legal issues for your...