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How Life Insurance Can Be Part of Your Estate Plan
October 25th, 2021
Life insurance may not seem to have a bearing on how to dispose of assets in your estate, but you might like what you find if you look a bit deeper. Life insurance can be an integral, indispensably important part of a well-thought-out estate plan.
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Categories: Estate Planning
Probate: How an Estate is Administered in Court
October 11th, 2021
To process a decedent’s will it must go through a function called Probate, a method which judicial officials, including probate judges, process property. State laws may vary but the general process stays genuinely the same across the country.
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Understanding Probate
September 27th, 2021
Probate is, at the basic level, the process of the court overseeing what happens with a person’s assets or belongings after a person dies. Officially, someone gathers the person’s assets and distributes them to the beneficiaries or heirs. That pe…
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Categories: Probate
Why a Letter of Intent is Crucial
August 30th, 2021
A letter of intent (LOI) can be a valuable piece in your estate planning, and although it is an informal letter, it can more fully represent your financial and personal intentions after you die. Everyone knows they need to make a will, but this lesse…
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Categories: Estate Planning
Lapse: What Happens to Inheritance if the Beneficiary Dies?
August 2nd, 2021
A key part of your estate plan is your will. In addition to identifying who is in charge of handling your estate after your death, your will names who will inherit your property and assets. But what happens if that beneficiary dies before you do? For…
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Categories: Estate Planning
Estate Planning for the Family Farm
July 26th, 2021
Suppose that mother and dad have run the family farm for a long time. Now, though, they’re getting on in years, and they’re considering moving into a smaller place. One of the daughters and her husband help run the farm, but the rest of the sibli…
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Categories: Estate Planning
What Your Will Can and Can Not Do (Hint: It's Not a Magic Wand)
July 12th, 2021
A will is a legally binding directive stating who will receive much of your property upon your death. Having a will allows you to appoint a legal representative or executor to carry out your bequests and name a guardian for your children. If you die…
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Beware of Undue Influence
June 14th, 2021
It’s the unfortunate truth that when our loved ones become elderly or ill, they become susceptible to manipulation from those who will defraud or steal. Targeted attacks on vulnerable older people to exert what attorneys deem undue influence consti…
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Categories: Estate Planning
“For the 99.5% Act": A Look at Proposed Changes and Estate Planning
June 7th, 2021
On March 21, 2021, Rep. Jimmy Gomez and Sen. Bernie Sanders introduced a new bill into Congress called, “For the 99.5% Act.” The bill’s introduced form is only 18 pages long, but its potential impact on federal estate and gift tax l…
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What Are Your Parents' Aging Strategies?
May 31st, 2021
In the United States, it’s very common for adult children to live far away from their aging parents. Managing aging parents’ or in-laws’ medical events can be a serious challenge without proper preparation and understanding of their str…
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