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Estate planning is the process of passing on your belongings to your heirs after your demise in order to safeguard your assets along with your
Fraud, unfortunately, is a common occurrence in life, whether you want it to be or not. Estate planning can create fraudulent interactions between people you thought you could trust. Building an estate plan requires interacting with other people typically, so fraud can occur but there are measures you can take to ensure you don’t fall prey to people’s desire for wealth. This article examines how fraud can affect the planning of your estate and methods you can take to prevent fraud from occurring, complete with case examples. Forging Signatures It can be as simple as catching an unfamiliar signature marring an otherwise flawless will or trust that was supposedly signed by a deceased relative. Suspicions of an invalid signature may
Every individual spends his or her whole life in simulating wealth for a better life for their own self and their family as well. During their lifetime, you are there to take care of your property, however, you also want to be assured that all that you own should be benefiting your loved ones after you pass away. In order to achieve this, it is essential to plan your assets. While talking about estate planning, people think that planning your estate means drafting a will, which is quite normal due to available information around it. The fact is that drafting a will and planning your estate seems to be alike as they normally go hand-in-hand, however, a will is only
We are currently living in a digital age as we are increasingly dependent on digitalization of everything like online payment of a bill, recharge, shopping, document conservation, etc. to make our life comfortable and thus our assets in digital forms are also increasing day by day. While talking about estate planning and doing it, people often neglect these digital assets while talking about the tactile properties making their loved ones suffer after their demise. Your internet accounts and anything that is stored online is also your property which needs to be protected like your other tangible and intangible properties. Estate Planning in Digital Age- Digital assets consist of personal devices like phone, laptop, etc., social media platforms like Facebook, Instagram,
Estate planning is simply a compilation of tools that help you plan the division of assets, values and religious effects after you no longer inhabit this world. It is a necessary job that makes you face the fact that you will not always be around to take care of your loved ones. You can ensure by taking the right steps at the appropriate time that your family enjoys the assets you have painstakingly assimilated in your lifetime. Making Will is the First Step of Estate Panning The first step that you take to take your legacy in control is to make a will. This piece of paper will ensure that you state your desire about who should inherit your property.
Most people after hearing the term estate planning think that it is just for the wealthy. People with a huge amount of money are the ones that care about what they pass on to others, don’t you think? While the billionaires and millionaires do have a knack for estate planning, they are not the only one that can benefit for a good estate plan. Yes, you non-billionaire can benefit from planning; you don’t have to be super-rich and successful in order to distribute the possessions that you have. In fact, estate planning has very little to do with being rich. Planning Your Estate When you are going through the process of estate planning, it would mean that you get to