When someone dies, the most valuable asset they often have is their home. In fact, it's often the only thing that they have of great material worth to pass to their children.
Estate planning is all about asset protection. You've worked hard for the things that you have, so it's natural to want to pass your legacy along to your heirs. However, you could be leaving your heirs with nothing if you don't take steps to protect your estate against lawsuits -- which can continue even past your death.
A lot of estate planning centers around protecting your loved ones after you are no longer here with them. However, it's easy to overlook a few simple -- but very important -- things that you can do to protect your spouse and family if you are the one who handles the family finances.
You probably already know that dying without a will is a huge error -- one that could leave your loved ones in a financial and legal limbo for quite a while as your estate goes through probate.
Most people assume that death will end a person's legal woes -- but that isn't always the case. Some lawsuits can easily survive the defendant's death -- and some can even start after an individual dies!
"Spendthrift" trusts are designed to protect their beneficiaries from somehow wasting the money that's held in trust for them -- while still making it possible for them to use the funds for their legitimate needs.
Divorce has a significant affect on the children in a marriage -- even if they're divorced. If you're facing a divorce after your children have become adults, here are some things that you need to keep in mind:
There are a lot of insurance ads out there that mention the burden that a parent's final expenses can put on their adult children.
A lot of step-parents love their step-children as much as they could any biological child of their own. This is especially true when the relationship is formed during the child's early years.
Most people who die in prison don't leave much of an estate to fight over -- but Charles Manson wasn't like most people.