What Does the Executor Do?
If the deceased has a will, it usually names a close relative, friend, accountant, attorney or financial institution to act as executor of the will.
Does My State have Inheritance Tax?
If you live in California, you likely know it is one of the highest-taxed states when it comes to income taxes. However, there is some good news for those worried about estate taxes. California is part of the 38 states that don’t impose their own estate tax.
What’s the Best Thing to Do with an Inherited House?
Leaving behind a home for a loved one to inherit is a huge gift, but without the right planning, it could be an equally large headache.
How can I Revoke an Irrevocable Trust?
I feel I was taken advantage of to the tune of $3,500, when I set up a trust.
Will My Power of Attorney Be Good Enough?
Not every power of attorney will be sufficient to manage your affairs, if you become incapacitated.
Will Inheritance and Gift Tax Exemptions Change in 2021?
The increase in the exemption is set to lapse after 2025. However, the Treasury Department and the IRS issued “grandfather” regulations in 2019 allowing the increased exemption to apply to gifts made while it was in effect, if Congress lowers the exemption after those gifts.
Can a Person with Alzheimer’s Sign Legal Documents?
Due to the debilitating nature of Alzheimer’s and related forms of dementia on your loved one’s ability to make sound financial decisions, the sooner you can get financial matters in order the better.
What Happens when Homeowner Dies without Will?
How do we move into probate, so we do not lose the house and bank accounts, while not killing ourselves in the process?
Common Mistakes when Making Beneficiary Designations
Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about those beneficiary designations again. However, that could be a big mistake.
What Should I Do when Spouse Dies?
While no one is ever ready to lose a loved one, proper planning in advance of a loss may help ensure that finances may be one less concern during such a trying time.