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Financial Planning / Estate Planning
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There are four ways to transfer property at the death of the owner. Only one is through probate. The other three are the result of an arrangement or disposition... |
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A will is a legal document that provides instruction for the desired disposition of property belonging to a testator (the maker of the will) upon death. It iden... |
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All parents and grandparents universally want to ensure that no matter what circumstances arise, food, clothing, shelter, and education will be provided for the... |
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The limited partnership was designed by law as a form of business organization that could be used by a group of owners and investors to undertake a commercial p... |
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It's unfortunate but true: the fact is that about seven of every ten adults have life insurance , but only one-third have wills . Possibly the most reasonable e... |
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Listed here are some common �but nonetheless vital �provisions that should be incorporated into your will . However, please be aware that they are by no mea... |
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A QTIP (Qualified Terminable Interest Property) trust postpones, but does not eliminate, estate taxes on property that one spouse bequeaths to the other. It's a... |
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State and local probate laws and practices can vary greatly, making it virtually impossible to compile a precise list sequencing the duties and steps that an ex... |
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The executor or administrator of a deceased individual's estate has a duty to collect all of the estate assets. These assets (also known as probate assets , or ... |
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A power of attorney is a legal document in which the maker of the document (the principal ) gives another person (known as the agent , or attorney-in-fact ) leg... |
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Probate is a court-supervised legal procedure for finalizing a person's affairs and distributing his or her property after death. If an individual dies having a... |
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A living trust can be a very effective estate-planning tool. When you create a trust, you transfer the title of your property that you put into it over to the t... |
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Even though the nominal federal gift and estate rates are the same, it generally costs more money (after taxes) to transfer a particular amount upon death than ... |
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All too often, it’s the onset of a serious or terminal illness which motivates people enough to talk about their future money matters for the first time. And,... |
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One of the unfortunate facts of life for the elderly is the possibility of the degeneration of health to the point of mental and physical incapacity. Although t... |
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If a person dies having no will or other estate distribution system, such as a living trust , that individual is said to die intestate . When this occurs, a sec... |
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Estate planning is certainly not the most popular subject to discuss at the dinner table, or in any other venue, for that matter. But if you’re at all serious... |
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Contrary to popular belief, it's very difficult to successfully challenge a will . The two most common legal grounds for challenges are that the testator lacked... |
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For the most part, you're free to choose virtually anyone that you want to act as executor of your estate �within certain limits, of course. As long as your c... |
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Charitable remainder trusts , or CRTs , are similar in concept to charitable gift annuities . However, instead of purchasing an annuity contract directly from a... |
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