Naming guardians in your will isn’t enough to fully protect your children if something happens to you. Discover the 10 most common guardianship mistakes parents make and how a comprehensive Kids Protection Plan® can provide complete peace of mind.
Unless you’ve created a proper estate plan, when you die, many of your assets must pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of this, avoiding probate—and keeping your family out of court—is a central goal of most estate plans.
Gene Hackman’s $80 million fortune is in legal limbo after his wife died just days before he did, highlighting the estate planning crisis that countless families face, including possibly yours.
In Florida, guardianship refers to the court-appointed legal responsibility given to someone who will make decisions on behalf of an incapacitated person. A guardian may have authority over the person’s financial matters, while another guardian may have authority over the person’s personal care and medical decisions.
As summer approaches, many parents are planning fun getaways with their children. However, few consider what would happen to their kids if an emergency occurred during their travels.
Being named executor is often seen as an honor, but many don’t realize the complex responsibilities and potential family dynamics involved. The role requires more than you may expect, from immediate financial obligations to long-term asset management.