A pour-over will can be an important part of a person’s estate planning checklist.
The first step in getting your affairs in order is to gather up all your important personal, financial and legal information, so you can arrange it in a format that will benefit you now and your loved ones later.
This is big concern for millions of older Americans who don’t have a spouse, children or other family they can depend on to watch out for their well-being.
It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
Many estate executors focus on estate taxes and forget about income taxes. That can be an expensive mistake.
The rapid rise in circulation and growing popularity of cryptocurrencies is prompting attorneys and estate planners to adjust, as digital assets are inherited through wills, trusts and estates, according to experts who warn of the danger of lost or misappropriated assets.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out likely considers you to be responsible and detail oriented. An executor of an estate typically helps file paperwork, close accounts and distribute the assets of the deceased.
Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning.
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
A 14-year-long legal fight among five siblings over a Queens woman’s estate has gotten so nasty that it landed two elderly sisters in jail, and now one of them may lose her home.