Tag: Estate Planning
“Probate is the legal process of presenting the will to the public, by hiring an attorney to present the will to the judge of the probate court. If the judge finds that the will meets all the necessary legal criteria, and there is no contest of the will, the judge signs a court order recognizing […]
“One of the most dramatic scenes in the movie, is the gathering of the Thrombey Family at their father’s estate to hear the reading of the will.” One of the recent surprise hit movies has been the murder mystery Knives Out, with a star-studded cast that includes Jamie Lee Curtis, Daniel Craig and Chris Evans. […]
“While most of us had stockings and menorahs on our minds, President Trump on Dec. 20 signed the Secure Act that makes the most significant changes in retirement accounts we’ve seen in years.” For anyone who has saved a high six or seven-figure balance in their retirement accounts, the SECURE Act will definitely affect their […]
“Federal law, under the Equal Credit Opportunity Act, forbids discrimination in the mortgage market on the basis of age. Nonetheless, loan officers say older borrowers often don’t realize they can get loans with terms that will expire on their 110th, 120th or nearly 130th birthdays.” A senior loan officer with a mortgage company in Florida […]
“According to the U.S. Census Bureau, the average age of widowhood in the United States is a surprisingly young 59.” Becoming a widow at a relatively young age, puts many people in a tough financial position, says the article “Preparing for the Unexpected Death of a Spouse” from Next Avenue. At this point in their […]
“These changes are so significant that every such plan holders should review their wishes and how their estate plans may be affected.” The SECURE Act has made big changes to how IRA distributions occur after death. Anyone who owns an IRA, regardless of its size, needs to examine their retirement savings plan and their estate […]
“I am named successor trustee in my parents’ trust. When the time comes, how do I sell the home and the other assets?” This is a common concern of people when they learn they have been named as a successor trustee, says nwi.com in the article “Estate Planning: The role of a successor trustee“. The […]
“Depending on whether you are the only beneficiary, or you are buying out other beneficiaries, you could move in, rent or sell.” There are choices when someone inherits a house. However, they depend on several factors. Are there other siblings who also have inherited portions of the ownership of the house? Is there another owner […]
“Paul Allen intended to give away the majority of the $20 billion-plus fortune he accumulated as Microsoft co-founder, technology investor, real estate magnate and NFL and NBA team owner.” It’s been a little more than a year since billionaire Paul Allen’s passing, but the course he charted to give away his fortune remains a private […]
“No good estate plan can afford to ignore the other assets, the ones called ‘illiquid.’ That category includes anything that can’t readily be converted to cash, in a regulated market with readily determined prices.” Many people are focused on their traditional assets that generate monthly statements, like bank and investment accounts, stocks and mutual funds. […]
