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Loved Ones

Estate Planning is a Woman’s Issue, Part One: Incapacity and the Caregiver

Estate Planning is a Woman’s Issue, Part One: Incapacity and the Caregiver All women—regardless of marital status and career choices—need to understand estate planning and need to have a plan of their own in place. Here are some issues that are of special interest to women. Incapacity: Generally speaking, women live longer than men. As a result, there is an increased need to plan for physical and/or mental incapacity that can occur in later years. Consider long-term care insurance. When purchased in advance, it can help cover the costs of incapacity and help you remain in your home for as...

Living Trust Administration After Death of the Trustor

After the death of the Trustor of a living trust, or after the death of the surviving Trustor (if the revocable living trust is a joint trust), the following steps should be taken: Successor Trustee. Establish authority for dealing with the trust estate by determining the identity of the successor trustee, and that person’s right to act. Documentation for the successor trustee usually needs to be provided to third parties, such as banks, mutual funds, or brokerage companies. Protect Assets. Any tangible personal property or real property which is part of the trust estate needs to be made...