Millions of Americans and fans throughout the world mourned the news of the passing of the legendary musician Prince. While his talents and music speak for themselves, unfortunately nothing spoke for his high asset net worth and vast estate. You see, Prince died without a will.
Probate, in its simplest term, is the transferring of one's property following their death. The process itself can be costly and lengthy. There are a few ways to avoid probate, which we have talked about in previous blog posts, However actions must have been taken prior to a death for those other options to be implemented.
If you are drowning in overwhelming debt and dealing with harassing calls from creditors, bankruptcy may be a valuable option to give you a fresh financial start. Debt is not always about being irresponsible. You cannot control when you lose your job, when you get sick or injured enough to collect high medical bills or when the cost of living rises more than you expect.
The American Dream can mean different things to different people. For some, starting a healthy and happy family is enough. For others, making money and having a successful career is all they want. No matter what your dreams and goals are, the unfortunate reality is that sometimes life happens. If you find yourself facing financial hardships, you are not alone. Millions of Americans throughout the country are in the same boat as you. But a sinking boat can still be saved.
Sometimes we need a reminder of the famous line by Benjamin Franklin. "There are only two certainties in life - death and taxes." While this comment was likely done in jest, it still holds true, and can be valuable for people to think about, especially when considering their future. As we all know but all too often forget or take for granted, no tomorrows are guaranteed, and we never really know when our time is up. We could continue with even more clichés, but the point is that an accident, injury or illness could strike any one at any time, and protecting yourself, your assets and your wishes in the event of a tragedy, should not be overlooked.