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Parents may become disappointed with a child and plan to leave them out of their estate plan. However, they may want to think again, considering the potential problems that can follow. Sometimes the black sheep of the family can create sufficient problems that parents may consider cutting him or her from the estate plan. However, that […]
An estate plan should reflect marriage, separation or divorce or the law makes assumptions. Things can get difficult with an estate plan, especially if it includes a trust, if you and your spouse have separated but have not yet gotten divorced, according to the Canadian newspaper The Globe and Mail in “A warning for couples […]
Almost anything can be done digitally today. However, strict rules make it difficult for wills to follow suit. Legal tradition calls for wills to follow strict procedures and be signed and witnessed to be accepted in probate court. However, the law is beginning to adapt in ways that will make electronic wills possible, according to the […]
The decision is usually made quickly and involves a close relative, but is that always the right answer? People instinctively write down their spouse, their children, parents or siblings when deciding the beneficiary of an IRA. However, it may not be the best decision and should be carefully considered and chosen wisely, according to Morningstar […]
You don’t get a say in the distribution of your assets unless you make a plan and get it written down. What happens to your assets when you pass away isn’t as simple as the people important to you automatically getting what they want, according to the New Jersey Herald in “Put your plans in […]
It is possible you may not be confident of the intentions of your in-laws. There is often tension between in-laws. Someone in the U.K. recently expressed concern on how to protect a child’s inheritance from a bad son-in-law, according to the This Is Money advice column “I have a terminal illness and our son-in law […]
When a spouse passes away, some elderly women need help with handling finances. Many women defer family finances to their husbands. This is especially true for older women, which can leave the women ill-prepared to handle things after their husbands pass away, according to The New York Times in “Helping Women Over 50 Face Their […]
Troy and Tiger included in New York woman’s will. Pets seem to becoming more important in family life than in the past. A New York woman left behind specific instructions on caring for her cats, according to Fox News in “New York widow leaves $300G to her cats.” A New York widow named Ellen Frey-Wouters […]
No-contest clause makes people think twice before challenging will or trust. A way around the problem of challenges to a will or trust is to include a no-contest clause, according to Press Enterprise in “The Pros and cons of the no-contest clause.” A no-contest clause helps prevent these challenges. It simply states that anyone who […]
Physician-assisted death law creates dialogue between doctors and patients. The Los Angeles Times recently reported an unexpected benefit of the physician-assisted death law in California, according to the Los Angeles Times in “There’s an unforeseen benefit to California’s physician-assisted death law.” One thing the law does is force physicians to talk to their patients about […]
