Category: Inheritance
“Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.” Transferring ownership of the family home to an adult child may seem like a simple approach for avoiding having the house go through probate, or even qualifying easily for Medicaid. […]
“Bradford Lund tries to prove he is mentally capable of managing his affairs but is trapped in a probate system susceptible to predators.” Even visionary Walt Disney could not have imagined the struggle his grandson Bradford Lund has endured trying to claim his share of the Disney family fortune, reports the Daily Bulletin in a […]
“What is equal treatment at time of death can be disputed among the children, when some children have received substantially more in lifetime gifts than the others.” Most parents want to divide their estate equally among their heirs, but sometimes things just don’t work out that way. That’s especially the case when one child needs […]
“There were only approximately 1,900 taxable estates in the U.S. in 2018, which is less than 0.1 percent of people who died that year.” The federal estate tax has been a small but steady source of federal revenue for nearly 100 years. The tax was first imposed on wealthy families in America in 1916. They […]
“One of the most dramatic scenes in the movie, is the gathering of the Thrombey Family at their father’s estate to hear the reading of the will.” One of the recent surprise hit movies has been the murder mystery Knives Out, with a star-studded cast that includes Jamie Lee Curtis, Daniel Craig and Chris Evans. […]
“Depending on whether you are the only beneficiary, or you are buying out other beneficiaries, you could move in, rent or sell.” There are choices when someone inherits a house. However, they depend on several factors. Are there other siblings who also have inherited portions of the ownership of the house? Is there another owner […]
“Planning for your farm’s future has never been more urgent. With one-third of United States farmers older than age 65, it’s estimated that 70% of farmland will change hands in the next 15 years.” Have you figured out who will take over the family farm? Are you or your parents prepared to transition the farm […]
“Estate planning sounds like you need to be of nobility and own country estates before it applies to you. However, estate planning only means that you are making a plan for when you pass away or are no longer able to make good decisions for yourself.” If you switch the term “estate” for “stuff,” maybe […]
“As we approach our 70s, we feel like we have everything covered. We don’t have long-term care insurance, but with the income we have off the farm and with our savings, we feel pretty comfortable. Is0’ everything we have enough?” A family has set up their estate plan. Two sons are already in the farming […]
“You probably anticipate living on a fixed income in retirement. However, you may not expect how much your spending will fluctuate. Many individuals tend to shell out more money at the outset of retirement, due to lifestyle adjustments or travel.” Starting retirement with a bang can make a big dent in your nest egg no […]
