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Your estate plan can run into difficulties, if your assets are not handled correctly. Your will does not necessarily have the final say on all assets. It is important how particular assets are handled. This can make a difference because houses, cars, retirement accounts and bank accounts can all be owned and transferred outside of […]
Assets may have been wasted in $100 million trust fund. When Elvis Presley passed away, his assets were left in trust for the benefit of his daughter, Lisa Marie Presley. She is claiming in a lawsuit that the trust fund is depleted and she blames her former money manager, according to the Daily Mail in […]
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 […]
Opponents often claim that Social Security is going broke and will soon be bankrupt. However, that isn’t true. A recent government report is being used by opponents of Social Security and government spending as ammunition to charge that if something is not done, then Social Security will go broke in 2022. The claim is not true, […]
There are health benefits to being mentally and physically active. People seem to have no problem learning how to have fun when they are young. However, that often disappears when they enter the work force and begin living an adult life. However, when they retire, they have the time to have fun again. It is […]
There is a lot of paperwork involved in transferring property and it needs to be done correctly. Ownership of property must be traced from one owner to another. However, when someone passes away, things change. There is now property that needs to change ownership. That creates the need for a lot of paperwork that needs […]
