estate planning certification
Estate Planning For Your Elderly Parents
Many people will go out of their way to avoid talking about illness, death, and money where their aging parents are concerned. The reality is we all get older and eventually need help from others. The more prepared you are today, the easier it will be for everyone down the road. If you haven’t had these discussions with your parents it may be time to start laying the groundwork.
What Important Estate Planning Documents Are Needed?
A Will – Decisions regarding your assets, how your estate will be managed, custody and care of minor children are some of the terms that need to be mapped out. Do-it-yourself kits are available, but if trusts, complex estates, or large amounts of money are involved, use a lawyer to draw up the Will.
Medical Care Documents – You need to appoint someone who you want to make decisions if your unable to do so. Similarly a Living Will tells doctors your wishes regarding which medical or life support procedures, you do or don’t want.
How Do I Start This Estate Planning?
It’s a good idea to know where your parents keep important documents. You will need to know locations for financial information, medical and life insurance policies, contact information for doctors, lawyers, and financial advisors, funeral and burial plans, real estate estate deeds, birth certificates, marriage licenses, and social security or social insurance cards.
Help The Estate Planning Along
Your goal should be helping your parents as much as they need and want to be helped. It can get very tricky if you overstep the boundaries – you don’t want to take away their sense of independence and hurt their dignity. As always, you’ll want to approach them with respect. And, be sensitive to their concerns and try to put yourself in their shoes – after all, you will be there someday.
Checking Your Own Estate Planning
Equally important as having these conversations with your parents, is doing your own estate planning and documenting your own financial and medical care preferences. Make sure that when the time comes that you are prepared for a smooth transition of your legacy, which you have prepared through your estate planning .
About the Author
Ivon T. Hughes of the Hughes Trustco Group is a licensed Insurance Broker. Author of The Life Insurance Handbook. Get a FREE Copy TODAY! Email
info@trustco.ca
Web:
http://www.hughestrustco.com
Home Inspector Certification…?
My husband is interested in Real Estate investing and we are wondering if it would be a good idea to get certified as a Home Inspector.
Would this be an advantage? We plan to buy, repair and rent or sell houses in our area and we will appreciate any good advice we can get.
Thanks in advance.
The only reason to get certified would be so he could do inspections for other people. That would not help him in his purchase at all- it may hurt him in court if he ever is in a court case over a condition issue on a home he bought or sold because he would be a recognized expert of sorts.
Much better simply to get whatever education he wants and needs either formally or informally without adding a certification he has no need for.
________
Also I buy and sell homes and think it is always a good idea to hire someone to check a house out for me. Kind of like a proofreader needs to be a different person than the author.
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