Year: 2018
What is best for your estate plan under the current political climate? A good estate plan does not work in a vacuum, but avoids generalizations about tax laws and creates a unique plan that will work for your family. The recently passed tax law creates a challenge, according to Financial Planning in “Avoid ‘dangerous’ planning […]
Even if your estate is small, you should consider a living trust. The probate process is very different, depending on your state of residency. That should be considered when creating an estate plan, according to the Los Angeles Times in “Why setting up a living trust may be wise, especially in California.” In some states, […]
Just what does an estate plan give you and your family? Many people do not think carefully about the laws of intestate succession and how their assets would be distributed, so an estate plan can be really beneficial, according to an Investopedia article in “Leaving a Legacy: Why You Need An Estate Plan.” The discussion […]
Without guidelines, the responsibilities of maintaining property by a life tenant can grow into big problems. Giving a person life tenant rights can be a good way to avoid some family conflicts and make sure that property stays in the family. However, it can also create different conflicts, according to the Edinburg Review in “Designate […]
Challenging a will may be easy. However, winning the suit isn’t. When a will is written that results in granting what someone wants other than the testator, it is known as “undue influence,” according to My Prime Time News in “Undue Influence.” Undue influence can happen when someone who benefits from a will encourages the […]
Las Vegas killer leaves large estate, but fair compensation for the victims will be a challenge. Despite a hefty estate of $5 million left behind, it will be difficult to compensate the victims of Las Vegas mass shooter Stephen Paddock, according to The New York Times in “The Las Vegas Gunman Was Rich. Will His […]
Here’s another reason to be excited: WE DID IT!! Michael worked the phones with the NYS Dept. of Health and coordinated with the New York Chapter of the National Academy of Elder Law Attorneys to get NYS into compliance with the Special Needs Fairness Act that he worked so hard to pass and succeeded in […]
As the cost for caring for the elderly increases, the amount of inheritance decreases. In wealthy countries, the idea of leaving an inheritance is in jeopardy and may become a distant memory for middle class families, according to the Financial Times in “Opinion Today: The end of inheritance.” Receiving even a small inheritance from parents, […]
Pensions used to be a main portion of the American benefits package, but times have changed. Many companies in the U.S. did away with pension plans for their employees in the 1970s and switched to 401(k) plans, according to the Washington Post in “‘I hope I can quit working in a few years’: A preview […]
It is a good idea to find out how a power of attorney will fit your unique circumstances. Powers of attorney can be easily obtained online. However, some of the issues they create can be masked, according to MD Magazine in “Five Questions to Ask About Your Financial POA.” The problem is that form documents contain […]
