Estate,Planning,When,Single,Es law Estate Planning When Single
When you work with an attorney, you will have no problem reducing the risks associated with getting your case in front of a judge and jury, or other formal court, when you need to. However, every case is different. It is important to work wi Bankruptcy is a situation, wherein an individual is termed as unable to discharge all the debts. When a person or a company is not able to pay off its creditors, it has an obligation to file a bankruptcy suit. In fact, a bankruptcy suit is a
Estate planning isnt always something people want to deal with. No one cares to think of death, especially their own or of a family member. However, with proper estate planning you can be assured that in the event of your death, an accident or illness, your home and family will be properly cared for. In particular, if you are single or widowed, you need to make sure to take the time to properly plan.When you are dealing with estate planning as a single, widowed or divorced person, there are a few very specific things you need to deal with. One of the specific items that you have to think of, that perhaps you might not if you have a spouse, is choosing a guardian or guardians for your small children. If you have minor children, you need to make sure your will discusses who will be in charge of caring for them. Whether a sibling, family friend or otherwise, this should be one of the first discussions you have when you plan. You will also need to make sure that there is language in your will and testament discussing the appropriate inheritance for you minor children. You will need to be sure that the will or testament lays out in specific terms how the children receive their inheritance and when they qualify for their share of the inheritance. All this needs to written in terms of what the scenario should be if you died while they are still minors and when they are adults.Another item that must be dealt with in a special manner are disability issues. To plan for the possibility of becoming disabled as a single, widowed or divorced person takes a little more attention to detail. You have to consider what might happen if you had an accident and you were left unable to make decisions about your life care. Plan for health care and a guardian to care for your finances.Other perhaps more pleasant things to think about are things like gifts and the proper giving away of personal belongings. As a single person, you need to think about who will be in charge of making sure the right gifts, financial and otherwise, are given to the correct organizations. Your legacy depends on the checks written to charitable foundations. Making sure these organizations and foundations get paid the planned amount is a necessary detail to care for.You also want to be sure that meaningful personal items end up in the right hands. Assigning a guardian to distribute legacy items such as family heirlooms needs to be part of your will. You need to include this in your plan, mentioning specific items by name and description where necessary.There are plenty of things to think about when doing estate planning. The details become a little more important when you are making a plan as a single, widowed or divorced person.
Estate,Planning,When,Single,Es