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Types of Life Insurance and How They Can Be Used in Estate Planning

Many of us do not start thinking about life insurance until we get our first full-time job and the company’s human resources representative asks us if we want to enroll in the employer’s group life insurance policy. Most people think “Why not?” and sign up, naming a family member as the beneficiary of their policy, and then never give it another thought. Although this may be a good start, too few of us spend much more time thinking about life insurance.

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Do I Have to Leave Anything to My Children?

One storyline trope in Hollywood movies is the rich father disinheriting the family outcast. The story usually traces the child’s attempts to win the father over and be considered a part of the family again. But can fiction imitate reality? Can you actually disinherit a child? The answer, in most circumstances, is yes. You can disinherit a child under most states’ laws, but you must understand the limitations and additional factors if you are considering this option.

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Simultaneous Deaths: What If My Spouse and I Die at the Same Time?

The chances of a married couple dying in a common accident or within a very short time of one another are probably quite slim. However, it does happen. And it happens frequently enough that most states have laws to address the issue and the problems that can arise from simultaneous deaths. What are these laws, why do we need them, and can we work around them if we need to?

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What Are the Rights of a Child Born Outside of Marriage?

Despite the prevailing view, children born to unmarried parents are commonplace. If you are a nonmarital child or have a nonmarital child, it is essential to understand how rights to inherit are formed and defined. Failure to adequately provide estate planning for a nonmarital child could be problematic for children and families attempting to assert their rights following the nonmarital father’s death.

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