After welcoming a new child, parents should be sure to update their wills with guardian designations. A guardian is someone who will care for a child if both of his or her parents should pass away. Children grow up though, and they no longer need guardians once they hit adulthood. When this happens, parents should update their wills to reflect the needs of their young adults.
Children are not the only people who change as time goes on. Couples in Lake Charles sometimes grow apart, and divorce can be the most sensible option. But before actually filing, it is important to update one's will first. If someone unfortunately passes away before the divorce is complete, the spouse might still receive all of his or her money.
There are many other reasons to update a will, like when a child gets married or if a named beneficiary develops a substance abuse problem. However, it is not always clear what those changes should be. Should a child's spouse be included in the will, and who should replace a struggling beneficiary? The answers to these questions are not always clear, which is why some people may find it helpful to seek guidance from an experienced estate planning attorney.
]]>Giving each child an equal inheritance usually seems like the most obvious solution, and in many cases it is. The problem here is that "equal" does not always mean "fair." Heirs can easily misinterpret their parents' attempt at showing love equally as disregard for their personal financial situations. Equal inheritances split among siblings with vastly different incomes can feel unfair to those with less wealth.
Leaving behind unequal inheritances can be a good idea for parents of children with different levels of wealth. Unfortunately, this is not a surefire way to prevent problems either. A wealthier sibling might feel that he or she is being penalized for being successful. Unequal inheritances can also reignite old sibling rivalries about who mom or dad loved more.
Although discussing money and end of life matters is never easy, it is still very necessary. Lake Charles parents might be surprised to learn that their children are comfortable with splitting things unequally, or that they would still prefer equal inheritances even though one sibling outearns the others. While the final decision still rests with the parents, having these tough conversations can make some aspects of estate planning a little easier.
]]>Unfortunately, criminal convictions can have lasting consequences, and though you may have faced your punishments and sought forgiveness for your actions in whatever ways you felt necessary, the mark on your record can act as a stark reminder of your past errors.
What can you do?
In some cases, Louisiana residents may qualify for record expungement. Essentially, an expungement seals a person's criminal record from public view in most circumstances. As a result, if the court grants you an expungement, you would not have to inform a future employer about the conviction. The same could go for applying for housing. Additionally, the mark would not appear if an employer or potential landlord performed a background check.
Still, it is important to remember that even if the court does grant an expungement, the mark does not disappear in its entirety. While most people would not see the mark on your record and you would not have to disclose it in most instances, law enforcement, criminal courts and other government agencies could have access to this part of your record if necessary.
Is it easy to have a mark expunged?
You may have already guessed that it is not particularly easy to have marks on criminal records expunged. You would need to meet certain requirements, and those requirements could hinge on the following details:
Understandably, you may not know whether pursuing expungement is a realistic option for you. Fortunately, you can access legal resources that could help you determine your eligibility and assist you throughout the legal process of applying for an expungement. In particular, contacting an attorney experienced with this area of criminal law could provide you with a knowledgeable advocate who could answer your questions, assess your specific case and work with you to achieve the appropriate goals for your situation.
]]>A will typically lists a person's property as well as who should receive what. This is a fairly straightforward process that allows a person to make his or her wishes known. There are a couple areas to watch out for when creating a will, though, including jointly owned assets and accounts with named beneficiaries. An account like an IRA will go to the person who is named as the beneficiary, not necessarily the person who is listed in the will.
Revocable trusts are sometimes referred to as living trusts and can also be used to distribute inheritances. Trusts can skip the time-consuming and costly probate process and make assets available to heirs much earlier. There are also certain tax benefits to using trusts, but the cost of establishing one is a bit higher than a will.
There is no one right answer when it comes to estate planning. Each and every person in Lake Charles has to consider his or her own needs when deciding how to pass on inheritances to heirs. This is not always an easy process and there is a lot on the line, so many people choose to speak with experienced attorneys about their options.
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