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If the elderly have problems handling their finances, Social Security has a helpful option. Families sometimes have problems with elderly family members losing the ability to handle their own finances. A general durable power of attorney can help. Social Security also has a program that can help in the situation of receiving their checks, according […]
Most issues were resolved. owever, some challenges remain, including child custody. Despite the Supreme Court decision allowing same-sex marriages, not all potential estate planning issues for same-sex couples are fully resolved, according to the Cleveland Jewish News in “Same-sex couples could face estate planning road blocks.” One of the biggest problems remains child custody. Prior […]
Prenuptial agreements protect assets. However, sometimes they are planned to prevent certain behaviors. Prenuptial agreements are set up to equalize assets such as when one or both parties enter the marriage with children from a previous relationship. It is an agreement that is arranged so the couple comes to terms with potential issues before marriage. However, […]
An estate plan needs constant review that reflects changing circumstances. Most people’s lives are not constant and are often affected by divorce, remarriage, additional children or additional assets, as well as many other circumstances as their lives unfold. When things change, then estate plans normally need to be changed as well, according to Forbes in […]
There is a close relationship between the estate tax and charities. The estate tax aims at taxing the largest estates to help fund government programs and charities aim at voluntarily raising money to support causes that benefit society. However, they are actually closely linked, according to Bloomberg in “GOP Plan to Kill Estate Tax Sets Up […]
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 […]
