Just like planning for retirement is necessary, so is planning for your death or incapacitation. This is where estate planning comes in. While you might think that only the very rich need an estate plan, in realty, people from all walks of life, young or old, need an estate plan.
You get home from work one day, and the house is quiet. The kids are gone, presumably at a friend's house. Your spouse is waiting for you at the dining room table.
There are many issues that come up when you start considering divorce. Many parents find themselves worrying about the impact of the separation on their children. It's also common to worry about how the courts will divide your assets. Unless you have a prenuptial agreement or have agreed with your spouse on terms for dividing your property, chances are that the court will make those decisions on your behalf.
People love to say that a dog is man's best friend. That can be true in many cases. A well-trained and properly cared for dog can be a source of companionship, protection and even medical intervention for those with disabilities, like blindness or diabetes. Unfortunately, dogs can also be incredibly dangerous, particularly to small children.
Most people who drive understand that motor vehicle collisions can prove life-altering. There are many difficulties after a serious car crash, such as paying for medical bills, missing work due to an injury and suffering physical pain while you recover. Sometimes, that means people who don't have immediately apparent injuries, like broken bones, feel grateful to walk away from an accident.
No matter at what point you are in your life, planning for the future is necessary. If you are starting a family or your career is just taking off, it is time to think about what tomorrow will bring. Estate planning is something that you should start early and continuously update as things change. For example, you should update your will each time you have another child. Another part of estate planning that may be necessary is creating a health care proxy.
Far too many people think that estate planning is something for you to worry about when you retire. Doing that can prove to be a major mistake. While everyone hopes to live a long and healthy life, you never know when an accident or sudden medical event could leave you incapacitated or even dead. Estate planning now can protect the people you love, as well as your assets and medical preferences, if your life takes an unexpected turn.
There are so many things to worry about when you're a parent. What kind of diet is best? How much screen time is too much? Are your little ones getting enough time outside? Most importantly, what will happen to your children if you should die unexpectedly?
Divorce may be the end of your marriage, but in many cases it is not the end of your relationship with your former spouse — at least, not legally speaking. Many divorces conclude with a judge handing down some form of decree that lays out guidelines for spousal support obligations.
If you and your spouse don't have children, that can make the divorce process less complex and faster for everyone involved. Unfortunately, just because you don't have human children doesn't mean there aren't dependent living beings you are both emotionally attached to.