Year: 2014
Much of the talk about estate planning is often centered around married couples with children. This leads some single people to think that estate plans are not necessary for them. However, estate planning can be even more important for singles than married people. If a married person dies without an estate plan, by law most […]
People in their 20s often do not think that they need to worry about estate planning. They plan to live much longer, so they believe there will be time to get an estate plan later. However, you never know when tragedy can strike, so it is important that 20-somethings get estate plans. Younger adults normally […]
Important lessons about estate planning can often reach the general public through issues over celebrities’ estates. 2014 has been a busy year for such lessons. Americans are fascinated by the lives and deaths of celebrities. When a celebrity passes away, the public wants to know how his or her estate will be distributed. Oftentimes the […]
The IRS is throwing a lifeline to taxpayers who missed an important deadline for estate tax purposes. Have you heard of spousal portability? One of the newer and better provisions in tax law is that you can take advantage of any portion of the estate tax exemption that a deceased spouse did not use. This […]
The rules about purchasing a plan and using the money can be challenging to understand, and there are numerous points of confusion about how 529 plans work. Here are some of the most common misconceptions. 529 plans are an important part of many modern estate plans as they provide the necessary education funds when they are […]
When a current trustee is unable to serve, the vacancy is filled by a successor trustee. What happens if a trustee is no longer able to carry out their trust responsibilities? After the initial trustee passes away, or becomes incapacitated, someone else should be designated as the successor trustee. However, the successor trustee often does […]
Today, a 65-year-old man has a life expectancy of 84 while a 65-year-old woman has a life expectancy of nearly 87, according to the Social Security Administration. That increased longevity has changed all kinds of financial planning, such as retirement calculations and long-term care insurance costs. But its impact on trusts and estates is only […]
With the holiday season in full swing, ’tis the season to review date of delivery rules for charitable gifts, which determine the date that the gift was made and affect the tax consequences of the gift. Here are the general rules for determining date of delivery for some types of property when given as a […]
In 2007, Hynie contested the will, claiming to be Brown’s wife and entitled to a spousal share of his estate. Under a settlement deal approved in 2009, Hynie was given one-quarter of Brown’s music empire, and the six children named in his will were given another quarter. The settlement was overturned in May 2013 by […]
Probate records reveal that he died without a will and left an estate valued at ‘nil’ in England and Wales. It is not known if he had assets held overseas or in trust or joint-ownership which would not have been included in his estate. His daughter Elizaveta Berezovskaya claimed at a two day inquest in […]
