Of all the potential problems facing elderly parents and the children who worry about them, one of the more difficult situations to deal with is when an elderly parent, typically a father, falls prey to a financial predator. Often referred to as “gold diggers,” financial predators seek to exploit an elderly parent's loneliness, isolation, and fear to their own financial gain by promising hope of a new romantic relationship. If you are concerned that your parent might fall victim to financial … [Read more...] about Protecting Your Elderly Father From Financial Predators
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Add Estate Planning to Your Vacation Planning
The next time you're taking the time to plan your next vacation, think about how much time you've spent making an estate plan. If you're like most people, your vacation planning is probably much lengthier than your estate planning efforts. Even if you haven't created a complete estate plan, you could take some preparatory steps to ensure that you'll be well prepared if an emergency should happen during your vacation. Here are a few questions you can ask yourself that will help you get … [Read more...] about Add Estate Planning to Your Vacation Planning
Is a Family Member Trustee the Right Choice?
When you create a trust you'll need to select a trustee to manage trust property and distribute it to beneficiaries. Many people who create a trust use a family member trustee. While this may seem an ideal solution, there are some questions you'll need to ask yourself if you are thinking about choosing a family member to serve in this vital role. Expertise and Experience A family member must manage the trust to the same standards that the law requires for all trustees. This requires the family … [Read more...] about Is a Family Member Trustee the Right Choice?
A Few Common Questions About Charitable Trusts
You've likely heard of various charitable trusts mentioned in conjunction with the causes and charities they support. For example, when Microsoft billionaire Bill Gates decided to use the bulk of his wealth for philanthropic purposes, he and his wife created the Bill and Melinda Gates Foundation, a charitable trust. Though many other charitable trusts were also created by very wealthy people, you don't have to be nearly as wealthy to establish your own. Let's take a look at a few common … [Read more...] about A Few Common Questions About Charitable Trusts
Selecting the Right Guardian
Estate planning often serves to alleviate some of our most rarely spoken about fears. If you are a parent with a young child, you have probably worried about what would happen to your child if you should die. Creating an estate plan and naming a guardian lets you sleep knowing that the right person will be there to take over caring for your child. Here are several tips you can use when making your selection. Consider the Relationships A good guardian is one who can provide a stable household, … [Read more...] about Selecting the Right Guardian
