In the recent economic downturn, many homes lost considerable value and stock portfolios gyrated. If this is the case for you, then you should consider reviewing your estate plan. If your will divides your estate into percentages for beneficiaries, then changes in value won’t affect the proportions by which your estate is distributed. However, if you have included specific bequests in your will, then a rise or fall in your net worth could have significant consequences.

What will happen to your estate if your primary beneficiary – the person you name to inherit your assets – dies before you do? If your will doesn’t name an alternate beneficiary, then your estate will be divided according to state law – which might mean it will go to someone you don’t like, or someone who is unable to handle significant assets. For example, suppose your will divides your estate equally among your children. If

Many people like the idea of leaving a bequest to a favorite charity in their will. But an interesting alternative is to put assets now into a charitable remainder trust. A charitable remainder trust is a trust that provides you (and possibly your spouse) with income for life. The trust can pay you a certain amount of income each year from investments, or you can choose to be paid a percentage of the trust assets each

Having difficulty keeping on top of your bills and other financial issues? Maybe a “daily money manager” can help. A daily money manager is a person who is experienced in dealing with financial matters that can build up and cause problems if they aren’t taken care of, ranging from paying routine bills to filling out complex medical claims. Daily money managers are members of a relatively new profession that now has its own professional association.

The loss of a loved one is difficult to cope with, but if the loved one left debts behind, it can be even tougher. It’s important to know who is responsible – and who is not responsible – for the debts of a deceased person. This is even more true now than in the past, because creditors and debt collectors have become very aggressive lately about contacting a deceased person’s family members and trying to get