Category: Estate Planning
More and more Americans are including their pets in their estate plans. Your estate plan does not have to be just for your heirs. It can include a trust or other measures to ensure continued care of your pets after you pass away. The National Law Review recently offered some advice on steps people can […]
As the court process over the estate of Prince begins to unwind, Heir Hunters of Court TV enter the fray. Entertainer Prince appears to have died without a will and under Minnesota intestacy law, his six siblings and half-siblings are his closest relatives and will receive the estate. However, a Court TV program claims to […]
The absence of an estate plan could make court case messy and expensive. As time passes following the death of entertainer Prince it appears more and more likely that a will doesn’t exist which will most likely prove to be costly to the estate and costly in the millions of dollars. The estate is believed […]
Proceed carefully when planning to leave unequal shares to your children or your decisions may be challenged. You may have reasons to leave unequal shares to your children when planning your estate but it might be wise to move forward with caution, according to the Wills, Trusts & Estates Prof Blog in “Some Considerations To […]
The IRA requires that a final tax return be filed after a person dies and there can be complications. When a person dies the IRS will collect any tax due from the first of the year to the date of death and that requires an income tax return be filed. US News & World Report […]
The estate of Michael Jackson and the IRS remain far from agreement on how much is owed. The IRS is going to court against the estate of Michael Jackson that could put the case in the $1 billion range according to the Hollywood Reporter in the article “Michael Jackson Estate Faces Billion-Dollar Tax Court Battle.” […]
Writing down the name of beneficiary is easy but there are important decisions to be made. Beneficiary designations are an important part of the inheritances for your heirs and should be carefully considered as Morningstar points out in “How to Handle Beneficiary Designations.” Naming the beneficiary on your IRA might seem like a simple process […]
Planning and paying for your funeral through estate planning may be a good idea but finding out the actual cost of the funeral isn’t always easy. A survey conducted recently to learn how easy it is to find out the cost of a funeral in advance ran into some interesting information as reported in Elder […]
Florida law requires insurers to expand search for beneficiaries of life insurance policies. Life insurance is a key component of many estate plans and needs to be addressed quickly by the insurer as the Tampa Bay Times reports in “New Florida law requires life insurers to do more to find beneficiaries.” Life insurance payments are […]
You can better protect your heirs if you take into consideration that your mortgage might outlive you. If you inherit a house you can end up with problems because it is often assumed you can continue the mortgage payments or refinance with the lender but, unfortunately, neither is the case in all situations. And, as […]
