Category: Estate Planning
Massachusetts moves to make home ownership easier for elderly. However, the program can create a problem. To avoid the problem of its elderly residents keeping up with tax payments, Massachusetts created a program that lets seniors defer property taxes until after they pass away. The taxes are then owed by the estate and about 1,000 […]
Don’t wait for retirement to launch your estate plan. People often put off estate planning until they get older. However, life events should trigger proper estate planning much sooner. This includes things like getting married or having children. Nevertheless, some people put estate planning off until they reach the age of retirement, according to the Times […]
An estate plan can protect a long-term partner. There are rarely provisions to protect people who are not married but are in long-term relationships. Many couples prefer to not get married. However, there still is a way to protect partners through an estate plan, according to the San Francisco Bay Times in “Want to Protect […]
Deductions for state and local taxes face a new limit. One of the more controversial changes in the new tax laws passed in late December was that the itemized deduction for state and local taxes is now limited to $10,000. Some state governments have tried to figure out a way around the limit for their […]
Spouse retains full rights to estate, unless there is a divorce. There were two deaths in the celebrity world recently that involved separations, highlighting a peculiar issue in estate law, according to Forbes in “Kate Spade, Anthony Bourdain And Estate Planning When You Are Separated.” The deaths were of fashion designer Kate Spade and celebrity […]
Some estate planning mistakes should be avoided, but they aren’t! Some basic mistakes should never be made in the first place. However, unfortunately they happen over and over again. While a comprehensive list of these mistakes probably is not possible, a list of surprising errors were created, according to the Wills, Trusts & Estates Prof Blog […]
New study on expectations of wealthy young people is disturbing. A large percentage of affluent 18-22 year-olds believe that their retirements will be funded by the inheritances they expect to receive, according to a recent survey. This could mean they are spending all their own money and not saving any of it, according to Bloomberg […]
If you can and do work past the traditional retirement age, you may live a longer life. It is possible that people who continue to work past retirement age are not only going to make more money, but live longer, according to Harvard Health Publisher in “Working later in life can pay off in more […]
There are some steps to follow if there appears to be no will. If a parent passes away and didn’t leave a will or you can’t locate one, things do not have to be too difficult. There are a few steps people need to take if they find themselves in this situation, according to Forbes […]
Standard rules for dealing with digital accounts, have yet to be developed. Rules and regulations vary greatly between different states and between different websites on which people have accounts. However, there are a few things everyone can do now to make it easier for others to handle their digital accounts after they pass away, according to […]
