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Americans know about Social Security and how it works, but do they really know enough? A recent survey found that most people between the ages of 55-61 believe some myths about Social Security that should be corrected, according to CNBC in “The three biggest myths about how Social Security works.” The myths include: Many people […]
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 […]
Even though their offspring may not want to think of it, the elderly may be sexually active and need proper protection. The unwillingness of offspring to consider that their elderly relatives may be sexually active can cause some problems, according to USA Today in “Yes, your grandmother is having sex.” One of the biggest problems […]
Doctors and other health care workers are trained to save lives whenever possible, but that can get them in trouble when patients don’t agree. Millions of people now have advanced medical directives. This can cause conflicts and problems for health care workers, according to The New York Times in “The Patients Were Saved, That’s Why […]
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 […]
Despite the occasional confusion about wills, they can be changed. “Mirror image wills” often turn out to be a common source of litigation, according to the National Law Review in “Contracts to Make Wills or Trusts.” The “mirror image will” is usually where spouses agree that the first to pass away will leave everything to […]
