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A spendthrift trust could help heir handle assets. If you have a family member who has trouble handling money a spendthrift trust may be the answer as discussed in a recent Reading Eagle article entitled “Office Space: Spendthrift trusts: how to (properly) protect a beneficiary from herself.” It is unlikely that a person with a […]
While the death of Prince reveals the need to leave a will many may be looking to write wills in the wrong places. By now it appears highly unlikely a will or estate plan will be found following the death of rock star Prince. Many Americans are now looking to write their wills but may […]
Some benefit increasing strategies remain despite the loss of file and suspend. The file and suspend Social Security strategy ended April 29, 2016 but other options remain as discussed in Investopedia’s “Alternative Strategies to File and Suspend.” The first option is known as a restricted application. This is a limited option allowing those whose spouses […]
An estate planning attorney could be helpful before signing a divorce decree. Divorce agreements often include child support and life insurance requirements but as the National Law Review points out in “How Divorce Can Impact Your Estate Plan,” these life insurance provisions in divorce agreements are often flawed from an estate planning perspective. Divorce attorneys […]
A third law suit has been filed against the Legion of Christ, a disgraced Catholic order, in passing of Rhode Island woman. When Gabrielle Mee, a wealthy resident of Rhode Island and a devout Catholic, passed away in 2008 she wanted to leave some of her estate to support Catholic causes but problems have arisen, […]
Some simple planning can help avoid the surging of emotions as families deal with an estate. Rising emotions can often cause problems when administrating an estate plan but some practical advice is offered by St. Louis Public Radio in “Four things to know about estate planning that could help you avoid fights with your family.” […]
U.S. residents are allowed to have a trust created in any state they choose. You can have a trust created in any state because you are not limited to the state in which you reside. Which state is the best for your trust depends on opinion as Trust Advisor reveals in “The Nevada Advantage: Why […]
It has taken nearly two years but some states are finally acting on the ABLE laws and regulations. The Achieving a Better Life Experience Act (ABLE), which was passed in 2014, allows people with disabilities to put up to $100,000 in state based accounts without losing Social Security benefits. But the act also requires states […]
Home state looks to honor Prince and protect his legacy. Right to publicity laws, which protect the image of entertainers, have been enacted in only a few states and Minnesota, where Prince recently passed away, is not one of those states. Without such a law, it is possible the scope of his estate’s rights to […]
The estates of the two sons of Bernie Madoff have to defend lawsuits. Bernie Madoff, who has been convicted of a Ponzi scheme, had two sons but both passed away with one committing suicide and the other dying of cancer. However, lawsuits had been filed against them and the estates of the sons are now […]
