My father left his house to me and my sister. However, 75% is supposed to be for me and 25% for her. Because she feels that was unfair, she’s fighting with me about selling the house. An example of the estate planning issue of treating heirs equally rather than equitably.
Establishing an estate plan is extremely important. As life changes, it is necessary to update your plan to fit new circumstances.
Issues of Elder Law – Understanding the Issues of Elder Law, Sabrina will guide you on the legal and financial aspects of the next stage of your life or the life of a loved one.
Property law can be complex and arcane, even for lawyers and judges. The rule against perpetuities is an example of how older property laws can influence how families transfer and inherit property rights. Arcane Law Could VOID Property Rights
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
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Even Consumer Reports suggests working with an experienced estate planning attorney to make sure documents are correctly prepared.
Naomi Judd left her daughters, performers Ashley Judd and Wynonna Judd, out of her will according to multiple reports.
Marvel Comic’s Stan Lee Estate is one step closer to clearing up a messy legal battle involving accusations of exploitation and elder abuse by the comic book legend’s inner circle, with the settlement of a lawsuit against Lee’s former business manager, Jerardo “Jerry” Olivarez.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
Perhaps the largest number of people who may benefit from asset protection planning are those who are at most mildly concerned about asset protection issues, or not even aware of the need for such planning.
Your estate plan should certainly be revised, if you have gotten married or divorced.
According to a recent Gallup poll, a little over half (54%) of adults in America don’t have a will.
Preparing an estate plan for managing and distributing your assets in the case of death is one of the most important steps you could take to protect and provide for loved ones.
A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies.
Since we’re all going to die (yes, even those of us who are still in our 20s!), we might as well make things easier for the loved ones who, along with grieving our loss, will have to deal with the financial and logistical pieces of our lives.
In this article, we will address two terms which some people use interchangeably, but which are very different things: living trusts and estate plans.
As soon as you are an adult, you should have an estate plan in place.
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
Some people draft wills or trusts to ensure that the loved ones they will eventually leave behind own a piece of the properties the former will be leaving behind in case of their death.
