Category: Estate Planning
You can create your own will. However, mistakes can turn out to be costly. There are hidden dangers in creating your own will, according to The New York Times in “Wills Can Avert Family Warfare, but Have Their Own Hidden Traps.” Most Americans do not have a will but a greater percentage of Americans have them […]
In order for your will and other estate planning documents to be useful, it is important they get into the hands of your executor. Many people believe that a safe and secure place for their estate plan is in a safety deposit box at a bank. However, it turns out that isn’t true, according to […]
Look at another person’s estate plan from their point of view. If you feel slighted by an estate plan, it is sometimes helpful to look at the other person’s point of view, according to philly.com in “Wife upset by in-laws’ plans for their estate.” A woman wrote to an advice column to say that her […]
People cannot inherit assets from people they have killed, but there are exceptions. “Slayer Statutes” have their limitations, according to the Wills, Trusts & Estates Prof Blog in “Court Determines that Slayer Statute is Not Applicable in Self-Defense Case.” We have long had laws that are designed to prevent people from inheriting assets from people […]
Financial considerations are necessary if you plan to leave that summer home to the kids. While the children may have fond memories of the family vacation home, they may not be able to afford it or even want it after you pass, according to the Globe and Mail in “How to keep the cottage in […]
What happens to your farm if the children have no interest in that lifestyle? Some farmers are caught between wanting to see their farm operation continue after they are gone and the fact that their children have no interest in working a farm, according to the Iowa Farmer Today in “Good fences make good neighbors.” […]
Probate does not have to be an ugly word that calls up nightmares. One of the most frequent questions addressed to estate planning attorneys is how to avoid probate, according to Forbes in “Probate, Wills, Executors: Your Estate Planning Questions Answered.” Probate, which is actually just the type of court where a will or estate […]
Wealth created by the original generator does not remain, unless properly maintained. The heirs of James Jewett Stillman have found themselves in the position of auctioning off art to obtain money to save the estate, according to Bloomberg in “New York Banking Royalty’s Heirs Are Unloading Art to Save the Family Estate.” Stillman, who is […]
Planning for your estate is always a good idea. It may also help out family members in the process. Many estate fights are avoidable, according to Wealth Management in “How to Prevent Feuds Among Heirs.” Families often fight over estates. Some of those battles cannot be avoided because of family dynamics. But the single most important […]
Trusts becoming subject of public discussion. Ivanka Trump’s trust is bringing some light to shine on the subject of trusts, according to The New York Times article “Despite a Trust, Ivanka Trump Still Wields Power Over Her Brand.” Trusts are not often a subject of much public discussion. They are important to estate planners, but […]
