Archive for October, 2009
Unlike a sports event or family entertainment event, Death_ _ cannot be re-scheduled ? Like the birth of a child happening at an in-opportune time in the middle of the night, one can only try to have a plan for the un-expected and maybe the in-evitable! A well planned Power of Attorney, with thoughts of a Living Will and a Family Will could be an easy place to start.
Too many outside elements apart from good home and family planning can interfere with even the best made plans. Un-expected illnesses and accidents usually top the list. One can only be prepared so far, for certain family developements.
It could be helpful to involve as many family and close friends when planning your estate and family’s future so that several people are available to rally around at your greatest time of need!
Try your best not to be caught off guard?
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Expensive and Futile Searches for a Lost Will?
posted by bruceE @ 6:22 PM
Thursday, October 29, 2009
Wills Location
Expensive and often futile Searches are made by executors and their solicitors for any Will, Safe Deposit Box and any personal documents after the death of a testator.
Sons and daughters and wives often don’t know where the testator does their banking, IF they have a Will ? Where it is kept, along with other important documents, thereby adding grief and anxiety to a family following a death.
Often times, the Will and Te statement don”t emerge after the death of a Testator. Here are some possible reasons why:
a. the custodian of the Will does not learn of the death of the testator: b. No record or memo is found in the papers of the testator indicating the existence whereabouts of his/her Will : c. The custodian of the Will has custody and forgot : d. The present custodian never knew about having custody of the Will, which was drawn years ago by one of his/her predecessrs: e. The testator had personal custody of the Will but it was hidden or destroyed by a surviving member of the family who was therein disinherited: f. The Will and important documents were placed in the safe deposit box of the testator, but the bank did not know of the death of the testator: g. The surviving relatives insist that the testator told them a Will was made and left it with a lawyer or trust company as custodian but such custodian cannot be ascertained.
Decide that you do not know all the answers and look for assistance.
But most of all, BEQUEATH PRICELESS PEACE OF MIND TO YOUR LOVED ONES.
Will:
in a drawer, in a cupboard, in a safe deposit box, or where ? Title to your property ? Your Insurance policies, ? Your Birth Certificates for you and your family members ? Your Marriage Lic.? Medical Records? Maybe Divorce Papers ? Your Business
Records ? Your Will ? Evidence has shown that most people do not keep all of these documents together in a Safe Deposit Box. Instead, the majority of these records are kept helter skelter throughout the home.
Have you told anybody where they are kept ? Does anybody know where and how to retrieve them if your well-being has been affected? If, you did tell someone where to look and what to do, can you rely they will remember, tomorrow, six months from now, three years from now ?
In today’s world wide cyber -space internet, individuals and families have a valueable and reliable assistant. They can go on-line to Will Registries that can help them resolve these important responsibilities and never have to worry ever again about where all these important papers will be kept. They can leave their instructions as to where to look for any information.
These on-line Registries are especially designed to assist people to record where these valuable documents will be kept and to assist those individuals charged with searching for these records when the time comes. Seek them out!
Will Registry
A very helpful Will Registry is of great value and one that provides individuals and families with helpful information to direct and guide them on the “ How To’s” and “Why’s” of having a Will drafted and then getting its Location registered on an international computer Will Registry database.
Good Registries ensure strict confidentiality over all deposited information pertaining to Wills. Information is released only to those usually listed as acting for a testator. Most Registries do not accept nor store Wills.
Even a professionally drafted Will is of little value if it cannot be found when needed.
In the administration of a deceased’s estate, the adminstrator or executor has to first ascertain whether the deceased has left behind a Will. In many cases, the next-of-kin or beneficiary believes that the deceased has drawn up a Will but does not have a copy of it or lacks information as to which lawyer, notary, or financial planner drew up the Will. The normal practice is that these professionals resort to advertising in legal journals seeking knowledge of the whereabouts of Wills made by individuals.
Individuals, lawyers, notaries, and financial planners are strongly encouraged to Register the Location of any Will with a Will Registry so it can be found when required.
_ _ _
Will Registry
looks at the necessity of people to have Wills ?
This blog continously urges people to draft a Will, and right away take the steps to register where it will be kept.
It has been discovered that many Wills cannot be executed be cause they can’t be found.
There are two or three good companies with Internet Electronic Storage Databases to accommodate any number of subscribers with excellent security procedures to Register the location of where your Will is going to be located. Seek them out.
Even the location of a hand written temporary Will can be registered in these databases for maximum protection. Highly recommended.
Will
You revealed that you had talked a little about preparing a Will for your family before the untimely passing of your partner caught you off guard.
Now then, is the time to finalize your action plan for you and your family. You will have learned by now that you can watch over other people, but you can’t make choices for them. Before you are stressed to the brink of mental exhaustion with doubts about what to do next, it is now time to act.
No more talking. It’s time now to prepare for a lifstyle change.
Your self-management skills that you have developed over the years can be a major boost to ease the path of living after the death of your loved one. When people use self-management talents, they most often gain confidence and the motivation needed to cope with the daily challenges of living and protecting the remaining family assets.
For helpful peace of mind, call your insurance agent, financial planner, lawyer or notary and arrange to work with whomever you choose to finalize the Will planning that you never got done before. The initial conversations with these professionals is usually free.
Helping Children after the passing of a Parent or Relative.
posted by bruceE @ 7:38 PM
Friday, October 23, 2009
Children who experience the death of a parent or relative before they are 11 years old are three times more likely to develope psychological symptoms than those who experience their first trauma later.
Children are able to cope better with a traumatic event if parents and other adults support and help them with their experiences during their child guardianship.
Things Parent(s) can do to help their children:
Help should start as soon as possible after the event. Right away talk with children about how they are feeling. Assure them that it’s okay to have those feelings. Help children learn to use words that express their feelings, such as “sad” or “angry” and “sorrow”. Children should not be expected to be brave or tough. Tell them it’s okay to cry. Don’t give children more information than they can handle about any event. Assure fearful children you will be there to care for them _ _consistently reassure them. Spend extra time with your children at bedtime. Allow children time to grieve losses. Help your children regain faith that their tomorrows will be better. Make sure your children eat properly and get enough rest thru this period.
Children may exhibit the following behaviors after a trauma?
Be afraid the event will reoccur. Become easily upset. Revert to earlier behavior (bed wetting, thumb sucking). Become afraid of wind, rain, or sudden loud noises. Worry where their family will live. Want to stay close to a parent. Have symptoms of illness, such as headaches, vomiting or fever. Change from being quiet, obedient and caring , to loud, noisy and aggressive or change from being outgoing to shy and afraid. May easily lose trust in adults.
It is important to remember some children may never show distress, while others may not give evidence of being upset for several weeks or even months after such a family emergency. Other children may not show a change in behavior, but still need your help. A wise parent will watch for any symptoms for two to four months.
Power of Attorney
You can lessen the grief, the despair, the anxiety and the confusing mess sometime left to loved ones due to an untimely illnes or accident by :
1. Executing an “Enduring Power of Attorney in which you designate one or more persons to handle your affairs for you in the event that you become temporarily or permanently mentally incapable of making reasonable judgements in respect of matters relating to all or part of your estate.
2. Executing a “ Personal Directive “ that deals with your wishes in the event that you lack capacity to make a decision about any personal ( non-estate ) matters including the extent and quality of health care , terminal care, where you want to live and with whom you want to live and social involvement, etc,
3. Execute your ” Last Will and Testatment “ that deals with your wishes and directives as to the disposition of your net estate. (assets minus liabilities, including taxes, death duties, etc. ).
This can take many forms including giving specific items in your estate to a designated beneficiary in addition to possibly distributing your residual estate to various benrficiares according to some formula. If you are marreid you may want to consider your spouse/partner to be the sole beneficiary and only distribute your estate to others, if they predeceased you.
Do not attempt to execute the above three important documents without preliminary planning and then use the services of the most experienced financial advisor, lawyer or notary available to you, who are familiar and conversant with taxation and legal estate laws applicable to your state/prov.
There are many pitfalls that a qualified financial advisor and a good lawyer/notary will help you avoid.
Be prepared for the unexpected !
Make Good Use of a Safe Deposit Box
posted by A-Will-4-The-Family @ 10:02 AM
Thursday, October 22, 2009
As people approach the twilight of their lives, they often become overwhelmed with all of the paperwork, contracts, financial information and assets they’ve accumulated. This is a shame because the final years of life should be peaceful and virtually stress-free. In order to achieve some piece of mind and to feel that you’ve done all you can to simplify the burden placed on your family after death, take some steps to organize your documents and possessions.
Select a bank – perhaps the one where your savings are being kept – and rent out a safe deposit box. The box should contain personal documents, personal property and financial papers that are especially crucial or sensitive. Keep a few copies of legal wills inside the box along with your marriage certificate, copies of all other licenses, certificates and your Social Security card. You’ll also want to keep any savings bonds you’ve collected over the years, old employment contracts, home deeds and titles and any real valuables like jewelry and rare coins.
With thanks from the research of some of the late Ann Landers columns, the copy of this letter still contains a message of relevance !
Titled: Please Make a Will.
Dear Ann Landers:
I am a fairly intelligent woman ( or so I thought ) in a state of shock. Why ?, because I didn’t know the first thing about inheritance laws. I sit here dumbfounded at my ignorance and angry at my deceased husband for not educating me. ( Maybe he didn’t know either, but he should have.
John and I were married 33 tears. We have two children. Five years ago our son ran off with a girl we never liked. We haven’t heard from him since. our daughter is living in California with some hippie—weaving baskets. We wrote her off in 1972 when she wrote us a nasty letter about our “crass materialism “.
Two weeks ago John died of a heart attack. He was 57 and in the best of health. He had a physical in December and pronounced fit as a fiddle..
John left no WILL . When the lawyers told me I am entitled by law to only one-third of my husband’s estate and our daughter and son will divide the other two-thirds I almost keeled over. Yes, that’s the way the law in Illinois reads and I am helpless.
I am writing in the hope that you will print this letter and wake up others who are as stupid as I was.
Signed: Don’t know what hit me.
Ann Landers reply said : Dear don’t know. Here’s your letter and I hope it gets a few million people to thinking.
She added : Do you women out there know what would happen if your husband dropped dead tomorrow? If you don’t, call a lawyer or financial planner or an insurance agent and find out. Nobody likes to think about death, but it’s virtually the only thing you can count on, only you don’t know when ?