How Do the Children Divide Up Mom’s Tangible Property?
One of the biggest challenges for anyone administering an estate is how to distribute what are called its tangible items. Unlike other property which can be easily sold, turned into cash and divided equally, tangible property is unique and often can’t be equally split. Its value also often can’t be measured by what it could be sold for. A family photo album may have no monetary value, for instance, but great sentimental significance.
Should I Create an LLC for Estate Planning?
Somewhere between a corporation and a partnership lies the limited liability company (LLC). This hybrid legal entity is beneficial not just for small-business owners but is also a powerful tool for estate planning.
Can I Get Social Security from My Ex?
I am now 60 and understand I can’t apply for Social Security for another two years. What if my ex or I remarry? I was a stay-at-home mom most of our marriage of 27 years. My benefits will be much smaller than his.
Should I Let The State Write My Will?
Death is not a favorite conversation topic. However, we all know it is something we must at some point discuss. The loss of a close friend or family member, or an event, such as the COVID-19 pandemic, seems to bring the topic to the forefront.
Estate Planning Basics You Need to Know
Estate planning can come in a variety of forms, from basic beneficiary designations when you open a bank or brokerage account to more complex and comprehensive plans.
What’s the Best Way to Select a Beneficiary for My 401(k)?
You might not be able to spend all the money in your 401(k) plan before you die. If that happens, your retirement savings will pass to the person you name as the beneficiary of the account. The information on your 401(k) beneficiary form typically supersedes what is written in your will. Therefore, it is important to keep this form up to date for all your retirement and investment accounts.
How Do I Include Care for My Children in Estate Planning?
Parents should make sure they have arrangements in place for the care of their minor-aged children, when planning their estates…
There Is a Difference between Probate and Trust Administration
Probate and trust administration are not the same. There are important differences and similarities between administering a decedent’s probate estate and administering a decedent’s trust estate.
Why Should I Think about My Death?
Talking about death makes most of us uncomfortable, so we don’t plan for it. That’s a big mistake, because if you don’t have an end-of-life plan, your state’s laws decide who gets everything you own. A doctor you’ve never met could decide how you spend your last moments, and your loved ones could be saddled with untangling an expensive legal mess after you die.
