There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you.
Among the many challenges for families is making sure there will always be enough money to provide lifetime care for special needs children. One solution is to fund a special needs trust with life insurance.
Prepaying for your funeral is one way to ease the burden on your family following your death and make sure your wishes are carried out. But pre-paid funeral plans come with risks, so you need to exercise care when purchasing a plan.
Ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger family unit. Unfortunately, it too often also creates inheritance fights between stepparents and children.