Prince Died Without A Will. Make Sure You Don’t.
If you're a music fan, you've probably heard by now that the late singer Prince appears to have died without a will in place. As a result, it is unclear who will end up controlling his Paisley Park estate, his music catalog and his ongoing legacy. If a will is not found, Prince's assets will likely end up being divided between his six siblings. For a man who was famously controlling of his image and his music, it is surprising that he would leave his legacy up to chance. Of course, it is possible that Prince had used other estate ... [ CONTINUE READING ARTICLE ]
5 Conflicts That Can Be Resolved During Mediation
It would be great if we could always see eye to eye with our family. In practice, as we all know, conflicts will arise among our loved ones. One way that families can resolve these conflicts is by using mediation. Mediation brings in a neutral third party to help all the parties come to a mutual agreement. The mediator doesn't force you to make any decisions. The mediator is there to help facilitate the conversation and identify areas where agreement may be found. Because estate planning and other end-of-life issues are so emotionally charged, this is a frequent source ... [ CONTINUE READING ARTICLE ]
4 Things To Consider About Aging in Place
When your parents or loved ones are thinking about the future, the idea of staying in the home they love is appealing. The memories that were made under that roof provide a sense of security and nostalgia: The home where children were raised, where grandchildren played, and a life was established. The idea of leaving it behind may seem unimaginable and unnecessary. It is their home and it’s where they want to stay throughout their twilight years. But is that home the best place for them? Outside of sentimental reasons, there are practical and logical aspects that should be considered. ... [ CONTINUE READING ARTICLE ]
5 Self-Care Tips For Family Caregivers
When you are taking care of a loved one, whether it's an aging parent or an incapacitated adult sibling, you are among a rapidly growing group of Americans. According to a study by the National Alliance for Caregiving and AARP in 2015, 34.2 million Americans provided care to an adult over the age of 50 in the previous 12 months. It's referred to as an "informal" caregiver, essentially meaning you do it without being paid. The first thing you need to do is recognize your role. You're a caregiver. Just because you're caring for a family member doesn't negate the ... [ CONTINUE READING ARTICLE ]
What Does It Mean When The Bank Tells Me I Need Letters Testamentary?
When a loved one passes away, while you are still in the grieving process, you may also have the additional task of trying to finalize his or her estate. One of the first places many people start when they are in this situation is the bank. When you inquire about closing out the account, oftentimes, you may be met with this response: You need to get Letters Testamentary in order to do that. What are Letters Testamentary? Letters Testamentary is the document issued by the Court authorizing the Personal Representative to administer a deceased's person's estate. It is issued when ... [ CONTINUE READING ARTICLE ]
Be Aware Of The Latest Scams
Anyone can fall victim to a scam. Young, tech-savvy people, business professionals - truly everyone can be targeted. Unfortunately, however, senior citizens may be particularly susceptible. For a number of reasons, scammers often target the elderly. Whether it's because of their perceived trusting nature or the possibility of a large nest egg ripe for the taking, seniors especially need to be aware of these scams. It's important to stay informed on the current scams. Just when you think you've heard of the latest, another one unfolds. If it's an elderly loved one you're concerned about, sit down with them and ... [ CONTINUE READING ARTICLE ]