Year: 2020
“Although Social Security helps millions of seniors stay afloat financially, living on those benefits alone could mean winding up cash-strapped in retirement.” When originally created, Social Security was designed to prevent the elderly and infirm from sinking into dire poverty. When most working Americans enjoyed a pension from their employer, Social Security was an additional […]
“The inheritance you leave could be eaten away by taxes or given to the wrong person. Here are five tips to avoid that.” It is true that a single person who dies in 2020 could have up to $11.58 million in personal assets and their heirs would not have to pay any federal estate tax. […]
“Prince’s sudden death in 2016 triggered numerous court proceedings. First, probate documents had to be filed in court because Prince died without a will.” Filing probate documents was just the beginning of process that still hasn’t ended the bad news from the Prince estate. He did not have a spouse or children, but Prince had […]
“If you have not already been inundated with invitations to webinars, articles and newsletters regarding estate planning, you should consider doing so before the end of the year, since you undoubtedly will receive these over the next few months.” When it comes to estate planning, there’s no such thing as a “one-size-fits-all” solution. That is […]
“Attorney-client privilege requires that attorneys keep confidential and refrain from sharing all secrets and other confidences of clients.” One of the hardest parts of an estate planning attorney’s jobs is managing the death of a client. Estate planning attorneys are highly skilled at creating plans, while clients are living and at administering the plans after […]
“If you are caregiving from a distance (you live here and your parent or other loved one is in another state, a distant city or as close as an hour away), it can be even more daunting than doing it in your home.” Trying to coordinate care from a distance becomes a challenge for many, […]
“Probate is a process to transfer the assets after someone dies. For example, when a homeowner passes, probate allows for the home to be sold or transferred, if necessary, even though the owner is no longer alive to sign a deed.” Estate planning attorneys are often asked if one of the goals of an estate […]
“Second (or third or fourth) marriages often require careful balancing between the needs of the surviving spouse and the needs of the children from a previous marriage.” It takes a certain kind of courage to embark on second, third or even fourth marriages, even when there are no children from prior marriages. Regardless of how […]
“During this crazy 2020 tax year, in addition to being faced with all the issues surrounding Covid-19, as well as the roller coaster ride of the stock market, we are also currently in an environment where the interest rates are as low as they ever have been.” As a result of the low interest rate […]
“Most states recognize inheritances as separate property, and many experts say keeping them separate is often the best approach.” Is an inheritance a blessing, or a curse? That’s the question from the recent article “When One Spouse Gets an Inheritance It Can Be Hard on a Marriage” posed by The Wall Street Journal. The emotional […]
