HowToDoThings.com Estate Planning

How To Make a Will

CVRAJAN — Thu, 17 Jan 2008 14:19:35 -0600

In case you own properties and assets, the best time-tested and legally sound practice is to make a will so as to ensure that in the event of your death, your properties get distributed to your near and dear ones according to your likes and preferences. A legally valid will can ensure that your heirs and dependents need not unnecessarily fight for their share of your properties in court after your death.

By making a will, you can allocate your assets to your dear ones in proportion to their needs. For example, if you have a physically handicapped son, you will be able to earmark a much higher share of your properties to him compared to another son, who is hale and healthy, well educated and well settled in life. This would not be possible in the absence of a will, as all the sons, as per law, will have the right to claim equal shares to your property after your death.

How To Get a Reverse Mortgage for Your Home

Robin103 — Wed, 01 Nov 2006 07:36:00 -0600

A reverse mortgage is a fairly new way for many retirees to supplement their retirement income. It allows the homeowner to take advantage of the equity in the home by turning it into cash while still allowing the homeowner to remain in residence. The money from the reverse mortgage is not taxable and cannot affect Social Security or Medicare benefits. For some retired homeowners, it is an excellent solution to their fixed income problems.

In addition to providing extra income for retirees, in some cases taking out a reverse mortgage can even save their home. While property taxes often rise, fixed incomes do not, and a reverse mortgage can give retirees the money they need to pay their property taxes and keep their home.

How To Receive Social Security Benefit Payments

Robin103 — Wed, 20 Sep 2006 06:52:00 -0500

For sixty percent of Americans, over half of their retirement income comes from social security. For those from low income households the percentage is higher - closer to eighty percent. While the future stability of social security is constantly debated, right now social security is fully functioning and those who have reached retirement age can collect in full.

If you have reached retirement age or are approaching that point in your life, and you want to know how you go about collecting Social Security, here is what you need to know.

How To Compare Life Insurance Policies

Julie317 — Thu, 31 Aug 2006 09:29:00 -0500

Choosing a life insurance policy can be tricky, as comparing them thoroughly -- in order to get the best price for your money -- can be difficult. Outlined below is a great way to compare potential life insurance policies to make sure you find one that fits your needs.

Gather a list of available life insurance policies for the amount and length of time that you need. You can do this by printing them out, writing them down, or by using a rate comparison tool offered by websites such as QuickQuote.
Determine which of these plans will allow you coverage according to your individual circumstances. For example, if you have a very high risk of having a heart attack or stroke due to family history or your own history, then some companies may choose not to offer you coverage.
Throw out the policies that will not cover your situation.

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How To Legalize a Last Will and Testament

Robin103 — Tue, 08 Aug 2006 07:29:00 -0500

A will is an important document that specifies how your assets will be distributed after you die. It also specifies who will take care of any minor children upon your death. It is a crucial legal document that all people who care about what happens to their assets need to have in place, and all people who have minor children must write their wills to ensure the proper care for their children.

If you do not have a legal will in place upon your death, the fate of your children and assets lies in the hands of the courts of the state in which you were residing at death. This can cause lengthy legal battles for the people whom you wanted to receive your assets.

It could also mean that any surviving minor children may not be raised by someone of your choice. Perhaps you want your children to be raised by a close friend. Without a legal will that expresses your wishes, the courts will be more likely to give guardianship to a relative who seeks custody.

How To Shop for a Life Insurance Policy

Robin103 — Thu, 03 Aug 2006 07:13:00 -0500

Having the right life insurance policy is one of the most important things you can do to take care of your family and loved ones in the case of your death. You need to make sure that you have the right coverage so they will not be left with financial hardships after you are gone.

If you do not have a life insurance policy or if you are considering getting a different life insurance policy, here are some tips on shopping for one.

Before shopping decide what how much life insurance you want to purchase. If you have a family and your income is crucial to their financial stability, you will want to purchase enough life insurance that will keep them living in their current lifestyle.

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How To Create a Living Trust

Julie317 — Thu, 29 Jun 2006 04:13:00 -0500

A living trust is a safeguard to protect your loved ones from probate upon your death and allows you to determine exactly what happens to your assets once you are gone. Furthermore, it will give you the opportunity to appoint a third party to make any decisions about your estate should you be unable to do so yourself. The steps below will lead you through the most important aspects of creating a living trust.

How To Determine the Advantages of a Living Trust

Julie317 — Fri, 23 Jun 2006 04:23:00 -0500

Whether or not you want to create a living trust is a deeply personal choice and all aspects of such a decision, both good and bad, need to be fully considered. A living trust is when you give ownership of your assets and estate to a trust, without giving up your own rights to the property while you are still alive. You can still manage or change the trust as you see fit. As long as you are living, the trust will be under your control (or the control of your trustee if you are incapacitated).

To decide whether or not you should create a living trust, you first need to determine what the advantages are for your specific situation. We have created three steps that will help you to decide:

How To Get Life Insurance with No Exam Required

Julie317 — Thu, 15 Jun 2006 12:37:00 -0500

Life insurance is essential for many people who want to protect their loved ones in the event of their own passing. However, many may delay getting this needed coverage because of the time and hassle related to obtaining a medical exam. Luckily, there are life insurance policies that do not require a medical exam in order to receive coverage. The easiest way to get life insurance without a medical exam is to do an Internet search for companies that will offer insurance in this manner.

Use an Internet search engine, such as Google or Yahoo, to begin your search. You should enter "life insurance + no medical exam" or "life insurance" "no medical exam" into the search bar.
This will bring up a list of websites for companies who offer life insurance with no medical exam or websites who have compiled these companies into a convenient list for you.

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How To Create a Living Will

Robin103 — Thu, 15 Jun 2006 08:54:00 -0500

A living will is a legal document known as an advance directive that gives instructions to health professionals. It lets them know under which circumstances you would like to be kept alive and which circumstances you would not. If you are interested in creating a living will, follow these guidelines.

There are two main ways to create a living will. You can either have a legal professional create one for you or you can do it yourself.
If you have a legal professional do the living will for you, hire one that specializes in this type of law in your state. If the living will is for an elderly person, find a lawyer who specializes in elder law.

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