When his 75-year-old father died, forty-year-old John inherited his father’s $1 million traditional Individual Retirement Account (IRA). John wasn’t sure what to do with all that money. So, he contacted the ...
In our last post, we discussed problems that may arise if a person dies intestate (without leaving a Will). In this post, we discuss the process for administering and distributing ...
A critical part of estate planning involves preparing your Will. Doing so helps ensure that your estate will be distributed to your heirs according to your wishes. Unfortunately, many people ...
Preparing a Will enables you to direct how and to whom your estate will be distributed once you’re gone. Your estate is comprised of your intangible personal property (including cash, IRA’s, ...
A critical part of estate planning involves identifying your beneficiaries, and specifying what they will inherit. Parents (particularly those who are widowed or divorced) often designate their children as beneficiaries. ...
The standard language in divorce decrees regarding each party’s obligation to maintain life insurance for the children of the marriage is, in many instances, not sufficient to protect the intended ...
Unfortunately, when a loved one dies, arguments may arise among the heirs to the estate (also known as the beneficiaries). One potential area of dispute may involve a commission due the Executor ...
Legal documents can be difficult to understand, containing unfamiliar words. In the case of Wills, certain key terms frequently cause confusion – specifically, Executor, Trustee, and Testamentary Guardian. We ...
One important aspect of estate planning involves the Power of Attorney (POA). Much confusion abounds regarding when POAs stop being in effect. We hope the following discussion will help clarify ...
Times change…. That’s a given. And, for those of us at or approaching retirement, how we expect to live out our senior years has certainly changed. In the not too ...