What Does a Last Will and Testament Do?
A last will and testament is essential for every adult. It establishes one’s wishes for distributing their property, whether real or personal, after death.
A last will and testament is essential for every adult. It establishes one’s wishes for distributing their property, whether real or personal, after death.
If your life changes, so should your estate plan. Marriage, divorce, death of a spouse, a birth and a changing relationship with a child are just some of the life changes that may affect your estate plan.
Understanding what happens to your debt when you die is an important part of estate planning—and you don’t have to be rich to have an estate. Everything you own and owe makes up your estate. For many people, that includes a house with a mortgage.
While most initial meetings with an estate planning attorney will result in some questions you likely have never considered, there are many ways in which you can prepare for a thoughtful and productive estate planning conference that will result in a better understanding of your goals and more efficient use of time with your attorney.
Early in 2021, you should communicate with your advisers and review several items about your 2020 planning, if that planning is to have any likelihood of succeeding.
Every family has one–or maybe more–black sheep. They’re people who march to their own drum and handing them an inheritance could be problematic.
Taking a few simple steps now can potentially help save your beneficiaries thousands in legal fees and taxes.
Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?
Do you expect your parents to leave you a financial legacy? Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by financial services company HSBC. Perhaps the bigger question, though, is how to even approach this topic with your parents.
Unfortunately, due to hidden resentments, siblings still tend to end up in court suing each other and losing great chunks of their inheritance in the process all too frequently.
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By Ethan Huizenga
Thursday, September 5, 2024
10:00 AM – 12:00 Noon