Exactly what the definition of a "friend" is may vary from person to person. Most individuals would say that you can't be friends with someone that you have never met (Manti Te'o and Lennay Kekua notwithstanding). Whatever your opinions on the matter may be, a man who passed away in Illinois last summer left behind everything that he owned to a pair of individuals that he considered to be his friends though he had never met them in person. He did see them frequently on the television … [Read more...] about Actors Receive Bequests From “Friend”
There are two sides to consider when you think about the subject of last will challenges. The first thought that may come to mind is that some disgruntled party is unwilling to accept the final wishes of a deceased individual. To prevent successful challenges when you know that there could be those who are not happy with your decisions you should explain your concerns to your estate planning attorney. He or she will gain an understanding of the situation and take this into consideration when … [Read more...] about Challenging a Last Will
Many people look forward anxiously to their retirement years and they plan ahead accordingly so that they have the financial resources that they need to make the most of all their free time. And of course we are all aware of the need for estate planning, and those who have retired or are going to be retiring in the near future are generally going to have an estate plan in place. This having been stated it is important to remember the fact that there is more to your post-work years than the … [Read more...] about Comprehensive Latter Life Planning
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. Not only has COVID-19 been challenging healthcare systems, but the social distancing required to combat the virus has also rocked financial markets. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read on to learn more. … [Read more...] about Shrunken Asset Values Open Estate Planning Opportunities
The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Learn what steps you can take to prepare yourself and help prevent its spread. Read on to learn more. … [Read more...] about Preparing for Coronavirus
The length of your life is going to be a big factor to consider when you are planning ahead with your elder years in mind. While no one has a clear view into the future you can examine longevity statistics to get some general ideas about the averages and go from there. According to the 2010 United States Census Bureau's compiled statistics the segment of the population that geriatric experts refer to as the "oldest old" (people who are 85 years of age and older) is growing more rapidly than any … [Read more...] about Longevity Statistics Can Help You Plan Ahead
When you are thinking everything through in an effort to plan your estate properly you should consider the matter of your final arrangements. Imagine the scenario that may exist after you pass away. Different family members may have different ideas with regard to the final arrangements. Many families get along well and would have no difficulties coming to an agreement with regard to what is best. On the other hand, this is not always the case, and emotions can run high when people have just … [Read more...] about Who Will Handle Your Final Arrangements?
The so-called "fiscal cliff" included changes to the estate tax that would have been devastating for many. If no deal was made to avoid falling over the cliff in 2013 the estate tax exclusion would have been reduced to just $1 million. The maximum rate of the tax would have gone up from the 35% that was in place in 2012 to a staggering 55%. After the crisis was averted via an 11th hour compromise we were spared the above fate. Going forward in 2013 we have much of the same with a slight … [Read more...] about Fiscal Cliff Compromise Provides Estate Tax Clarity
Deciding to go into business for yourself is a very big step, and success takes a lot of careful and informed planning. At the same time, once your business is on firm footing you have to ask yourself how you will be exiting the business, and this too is something that takes some intelligent planning. You may love what you do and have no intention of retiring. Some people feel this way, and if you are one of them you will be more concerned about how you're going to be passing along the … [Read more...] about Obtain Succession Planning Advice
Most people do not have an estate plan in place, and younger adults are more likely to be going through life without having made any preparations than older ones. You may say that this is logical because estate planning is absolutely more important for senior citizens than it is for young adults. In fact, it could be argued that nothing is further from the truth. At the time of this writing the average life expectancy for people of all ages is 78 years. So for the purposes of this example … [Read more...] about Have You Selected a Guardian for Your Minor Children?