For most, having a will and other estate planning documents is a chore which no one enjoys. Once completed, there is a feeling of great satisfaction in completing the arduous task and the documents are placed in a special place for safe keeping and soon forgotten.
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Are you the beneficiary of a trust from which you would like to receive more income? If so, there is a statute that may help you reach that goal.
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The estate planning documents that a lawyer may prepare, such as a will or trust agreement, are but one step in an estate plan. The next step is to ensure that beneficiary designations on certain assets are designed in a way to allow the estate plan to operate as intended. This requires that you or
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Dying without an estate plan lets the state determine the disposition of your property. At that point, it’s too late for you to help your heirs. For their sake, don’t let that happen to you. Everyone needs an estate plan. The term “estate plan” is often misunderstood as referring to a complex set of legal
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Hard working people, young and old alike, are often so busy with everyday life that they never get around to some of the basic legal documents that every adult should have in place. Those documents are a will, a healthcare power of attorney, and a durable business power of attorney. Each has a special function
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In August, 2006 Congress passed the Pension Protection Act, included in which is a potentially very beneficial, but little known, section that permits “nonspouse” beneficiaries (NSB) of retirement plan participants who die after 2006 to roll over the retirement plan death benefit to a special Inherited Individual Retirement Account (IIRA). The NSB is any beneficiary
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Here’s a real-life scenario to ponder. Your mother has passed away of a rare cancer. You find yourself the executor of her estate. Your mother’s marriage to your step-father did not thrive, but she and your step-father never divorced. Upon your mother’s death, you discover she wrote your step-father out of her will. You and your siblings were never close to
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