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March 2020 Archives

Can you sell your home at a bargain?

Your family home is worth $250,000, but you want to essentially give it to one of your children. You have now moved out, and you live in a nursing home anyway, so it seems like a good idea to pass it on independent of your other estate planning. That is to say, you're not going to wait for it to go to your heirs with the rest of the estate.

How to talk to your parents about estate planning

As your parents grow older, their well-being during their later life will become a bigger priority for you. If you are concerned that your aging parents have not yet created an estate plan or are not taking the appropriate steps to plan for mental incapacity, you will likely want to have a conversation about this with them.

You may need to update your estate executor

When you create your estate plan, you pick an executor. It's one thing to write out the plan, but you must remember that you won't be around to put it into action, so you need someone to do that on your behalf. You want to talk to them first and make sure they're up for the job.

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