Regardless of your age or financial situation, it’s important. It addresses the issue of who will handle your financial affairs and medical decision in the event you lose the capacity to do it yourself. It provides assurance that the needs of your young children will be met
When a loved one passes away, his or her assets often need to be accounted for and distributed through a court-managed process. If there is a will, it is usually offered to the court for probate by an individual named in the will as the executor. If there is no will, a close relative, typically a spouse or a child, petitions the court to be appointed as the administrator of the estate.
Proper and timely estate planning is a great way to avoid future disputes and family turmoil. However, at times, even when your rights are adequately protected, estate challenges arise during the probate proceedings. Estate litigation is a complex area of law that concerns actions brought in court against the estate.
The purpose of elder law planning is to prepare the elderly person for financial freedom and autonomy through proper financial planning and long-term care options.
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