Justin Raber Attorney at Law

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September 2017 Archives

Address financial and non-financial issues in estate planning

Some West Virginia residents and others throughout the country have likely given some thought to how things will be addressed after their passing. While many may have wills that address how assets will be distributed, others may have undergone more comprehensive estate planning. Experts suggest that individuals include some issues in the plan that go beyond the numbers.

Divorce issues: more prenups including lifestyle specifications

Prenuptial agreements are typically developed to address the division of assets should a West Virginia marriage or others around the nation end. However, there are some couples that are beginning to include other issues in their pre-nups. Divorce attorneys report that there has been an increase in the number of lifestyle stipulations included in prenuptial agreements.

Documents needed for estate planning

Many West Virginia residents and others throughout the country know the importance of having a will in place. However, there is more to estate planning than simply drafting a will. There are additional documents necessary that can protect individuals who are still alive and others that will protect them after their deaths. Financial experts recommend having  power of attorney, health care power of attorney, living will and last will and testament.

Share details of estate planning with family members

There are very few West Virginia residents or others throughout the country who make financial decisions in a vacuum. In other words, the decisions an individual makes regarding spending, saving, investments and retirement are likely to have an impact on others at some point in time. In most situations, those closest to a person are the ones who are most affected, such as spouses, children and grandchildren. Therefore, financial experts recommend sharing information about decisions that will affect them. An important step in estate planning should be a discussion with those included in the plans.

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