Many people understand that they should create an estate plan, but there are many reasons why they hesitate to do so. One of the most common reasons is that it can be difficult to accept that a person will not be around one day. If you die without an…
Many people who have engaged in estate planning understand that beneficiary designations play an invaluable. Despite this, the value of beneficiary designations is overlooked by some people. After signing estate planning documents, it is critical to make sure that your beneficiary designations are consistent with the rest of your estate…
It’s a painful realization that we will all die someday. Even though facing the prospect of your demise can be frightening, utilizing the proper estate planning tools give us control over an area where we have little power. There are also many other helpful strategies that a person should…
Parents can make medical decisions for their children. After a child reaches the age of 18, however, and is viewed in the eyes of the law as an adult and a parent’s ability to make these decisions ends. Fortunately, through the use of a few simple estate planning documents,…
Trust protectors are becoming an increasingly common part of estate plans in New York as well as the rest of the country. A trust protector refers to someone who is appointed to look over a trust and make sure that the trust is not adversely affected by changes in the…
Many conversations mention estate and inheritance taxes together, but there are some substantial differences between these two things. Both these taxes, however, have one thing in common: not everybody pays them. As a result, it is a wise idea to begin by deciding whether you will be required to…
The Supreme Court of Montana recently affirmed a judgment by the district court distributing assets from a trust established by a husband and wife to the couple’s three children. The district court had interpreted the trust creator’s handwritten codicil as a wish and not a specific bequest of the…
The Mississippi Court of Appeals recently decided that a man convicted of DUI manslaughter that led to the death of his wife can collect survivor benefits from the state. The late woman had designated her husband as a 40% beneficiary while the deceased woman’s sister was a 60% beneficiary. While…
Losing a parent is not easy. While being prepared for the event might not make the emotional aspect any easier, it can help to eliminate the potential for additional problems. As a result, this article reviews some of the important financial steps that you can take after a parent passes…
Wills play an important part in the estate planning process. The best estate plans, however, include more than wills. Instead, the best estate plans anticipate the numerous complications that can arise at the end of a person’s life. Advance Healthcare Directives Medical powers of attorney and living wills…