Estate Plans and Powers-Of-Attorney For Special Needs Clients

Estate planning, trusts, wills and living wills are confusing and convoluted. Estate plans cover several of these items, but trusts can be a different matter. With state and federal laws regarding inheritance and property changing every year and contributing to the confusion, an individual or family should not rely on a do-it-yourself approach. What poses a more challenging and problematic situation is if there is an individual with physical disabilities or developmental special needs. Because the laws change constantly, the services of an experienced attorney need to be used.

When an individual dies without a will, also known as intestate, the assets are left for the courts to decide the best method to distribute them. The process of probate is usually never swift and even the simplest estate can often be diminished to the extent where the remaining assets are almost nonexistent. Conversely, should the entire estate be left solely to the spouse, the taxable estate of the spouse may very well increase. In the event that the spouse also passes away, the children will be left with higher taxes as well. Estate tax exemptions are available, but may not be taken advantage of without taking the proper steps.

Assigning a power of attorney is also an important component of estate planning. Not to be confused with a living will, should an individual be ill or unable to be present to make decisions about personal property and finances, a power of attorney authorizes a second party to legally make decisions in their stead. A living will does not pertain to the individual’s property, but the medical care provided.

In the event that a person becomes too ill, incapacitated or otherwise incapable of making their own decisions regarding their personal medical care, a living will prepared ahead of time will spell out the medical care desired or forbidden. An example of this would be to forbid using artificial life support when permanent brain damage has caused the brain to cease any activity.

A complete estate plan will include much of the above, but when there is a special needs or physically disabled individual, additional detailed and complex provisions need to be arranged. Without additional planning, it is almost a certainty that the disabled or special needs family member will end up in a state institution receiving only the mediocre care that lack of money can provide. Trusts are not always part of an estate plan, but are an integral part of ensuring that the special needs individual will receive the appropriate medical care after the parents have passed. Without planning for the inevitable would just be criminal for which there is no punishment.

Many websites provide additional information on the topic of estate

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Reaping Financial Rewards – Bad Credit Home Equity Loans

Home is the place you inhabit. It is the place where you live, breathe, grow, thrive. It does more than just providing a living space. The moment you build up this house, or moved to your present apartment, you did not realize that you have struck it rich. ‘Rich’ – that is not the exact word to define your current status as you are struggling with bad credit. I know you want to argue on this point but let me explain. There is something called home equity that lies in the embryonic state waiting to be germinated. Home equity has more to it than what meets the eye. However, many of us do not understand the meaning of home equity. Let alone use it for their own prosperity.

Let us begin with the fundamentals. Home equity is the difference between how much the home is worth and how much you owe on the mortgage (or mortgages, if you have more than one on the property). A home equity loan or line of credit is a loan that facilitates the borrowing of money using home equity as collateral. A home equity loan is in essence a secured loan. Accordingly aborting the repayment agreement will result in seizure of your property or home. That you certainly don’t want since you already have been suffering due to bad credit. Confiscation of your property is the one thing you don’t want on your list of financial fiasco. Thus careful introspection is recommended in relation to bad credit home equity loans. A key word that might be encountered by you is home equity line of credit. It is categorized as the kind of home equity loan. A HELOC or home equity line of credit allows the loan borrower to borrow various sums up to a fixed amount over a period of time. A home equity line of credit works in a way which is analogous to a credit card; you use it when you need it. Different States set their own laws on limits you can borrow against your house.

Bad credit home equity loans can be used for any personal reason. Bad credit home equity loans are second mortgage that converts your home equity into ready money. This cash can be used for many purposes like home improvement, debt consolidation, college education, and any other expenses. There is no expiration to possibilities to a home equity loan. Tapping on the home equity with bad credit is effortless if the loan borrower understands his own expectations and status in the context of bad credit home equity loans. Bad credit home equity loans are currently very attractive but then again you what is good for someone else might not be good for you. So bad credit home equity loans should be contemplated seriously before taking a concrete decision. You don’t need another bad decision on your credit report, so chose wisely.

Bad credit has unwelcome consequences on your entire investments plan. This includes your plans for taking a home equity loan. You might have blundered earlier but this time it is our home which is at stake. Discuss your bad credit with the loan lender you are opting for. Commissioning the right loan lender is crucial for your bad credit home equity loan. In fact it is the thing that guarantees your success in acquiring bad credit home equity loans.

Little do people realize that home equity is a powerful tool for making a statement while placing a loan application. Bad credit home equity loans have a very high incidence of being the finest option of people contemplating debt consolidation. You success with bad credit home equity loans rests on the simple fact that you make a plan and cling to it religiously. The credit card debts have been weighing heavily on you. Those irksome little debts, those just hamper your personal expenditures in every possible way. Get rid of them this time with bad credit equity loans. Let you wallet weigh less of credit card debts and more of ready cash for you personal usage.

Bad credit home equity loans have this great opportunity for home owners. Bad credit home equity loans can be used fittingly for the purpose of home improvement. Make the minor little changes that you have been putting off due to this bad credit. There is an added benefit. You build up your equity while using equity for in your home. Bad credit home equity loans can even help to fund your vacation. Clasp the snow stricken mountains, or go for a dip in the clear blue waters of the Caribbean islands. It can all be realized through home equity loans even if you can’t shed off the bad credit tag.

A very congruent utilization of bad credit home equity loans is for initiating a retirement plan. Retirement is to be realized some day. A lot depends on how you are planning your retirement that will reflect on your financial independence in the future. Many bad credit home equity loans have been used to proffer investments. A trusted loan lender or financial advisor can advice you suitably for your current financial status. Make a bad credit home equity plan and see how it can reap economic rewards.

Economic rewards! Does that come with bad credit? You are throwing your hands up in the air and saying ‘no way’. ‘No way’ but you have read all about it. Haven’t you? You see the house you are

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