Being an executor is not an easy job and can be quite stressful. Many people trust one of their own children above all other potential candidates for the responsibilities when considering an executor. However, it is not always a good idea, according to Texas Lawyer in "Mamas, Don't Let Your...
The distribution of real estate can be a good deal or a bad deal. One way to avoid real estate going through probate is to put someone else's name on the ownership of the asset. However, that almost always comes out badly, according to the Daily Republic in "All Things Real Estate: Living trust...
What you decide to do with retirement accounts, can be a major enhancement to your estate plan. IRA retirement benefits can be used as a way to balance out other bequests and it can be used to support other estate planning goals. There are also tax implications to consider, according to ...
To Kill a Mockingbird put author in the limelight, but she quickly stepped out of it and has remained out. When Harper Lee, the author of To Kill a Mockingbird, died in 2016 there was considerable publicity as writers attempted to uncover all the details of her life. They met with little success...
Medicaid is a possibility, if retirement money runs out. However, the program is aimed at helping the poor. When many Americans consider the possibility of long-term care in a nursing home and look to insurance, they find that insurance is often difficult to obtain and afford. Medicaid is a...
Wills and trust often go hand-in-hand, when it comes to estate planning. Should you decide to use an online service instead of going to an estate planning attorney, you may find yourself with a trust but then learn you also need a will, according to the Lake County News in "The difference...
As size of estates increase, so do the number of challenges. However, success isn't easy to come by. As the number of wealthy estates increase, both the U.S. and Canada find themselves in challenges brought about by people who believe they didn't get their fair share, according to The Globe...
Since a plan is required when a Medicare patient leaves a hospital, it is best if the patient and family check into their potential options and the accuracy of information they have received.
Hundreds of scammers face charges of defrauding elderly. Local law enforcement and elder law attorneys are sympathetic when they hear of scams aimed at the elderly, but they are often unable to do much.
A challenge can be created when one child is responsible, and others aren't. Varying degrees of financial responsibility by children can be a challenge to creating an estate plan, according to Market Watch in "My son is responsible, my daughter is in debt -- how do I split my estate?"
You can't necessarily prevent being incapacitated. However, you can make plans, just in case it should occur. There are no age requirements for disabling accidents or illnesses, so it would be wise for everyone to plan for what would happen if they were to be incapacitated.
Create a second trust and the first is revoked? It doesn't work that way. A common question was presented to a column about trusts, according to the NWI Times in "Can an individual establish more than one trust?" The question was if a second trust wipes out the first trust.
New scams continue to increase, as well as old scams. Among the most common scams aimed at the elderly, involve their grandchildren or the IRS, according to the Minneapolis Star Tribune in "As senior population grows, so do scams targeting their money."
In trying to avoid probate, people can find themselves getting the opposite results. Many people do not realize that probate courts handle more things than just wills and can't always be avoided, according to WLTX19 in "Man spends thousands in probate costs to help wife with dementia."
Estate planning is one of those things that is better done now, rather than waiting until later. That can actually be too late. The question comes up about finding the right time to set up an estate plan as life marches forward.
Eleven years after his death, the singer's estate remains unsettled. Soul singer James Brown passed away in 2006, leaving millions to poor children in Georgia and South Carolina. However, none of the money has been given to the children because the estate is bogged down in numerous lawsuits...
Assisted living facilities save Medicaid money. However, it is difficult to know what funds are spent wisely. A group of U.S. Senators asked the Government Accountability Office to look into how the government's Medicaid money was being spent. However, the results were not good, accord...
Estate planning often involves setting aside educational funds for children and grandchildren. It is common for people to consider helping out their children and grandchildren for educational purposes, when setting up estate planning.
Can you trust them? If you wonder, then you probably already have the answer. Multiple relationships and fewer bonds can often lead to some challenges, when it comes to settling an estate, according to the Financial Times recently in an advice column "Should I trust my wife to divide my assets fairly...
A new rule designed to prevent financial abuse of the elderly requires additional information. FINRA, a self-regulatory agency for brokers, has just implemented a new rule to help stop the financial abuse of the elderly even before it begins, according to Consumer Reports in "New Ways to...
Protecting assets for your minor heirs can be a challenge. If you plan on leaving assets to minors, you can leave it to the courts to decide on the best person to handle the funds or you can do it yourself through an estate plan, according to the Times Herald-Record in, "Proper legal planning...
Some simple documents will go a long way in protecting you as retirement age approaches. While many people are concerned an estate plan has to be complicated, you often only need a few simple documents prepared by an estate planning attorney, according to the Brooklyn Daily Eagle in "Five legal documents...
Law enforcement and family members can work together to prove elder abuse. The state of Wisconsin has initiated a program to help law enforcement and family members prove that elder abuse or neglect is occurring, according to WBAY in, "Wisconsin allowing hidden cameras to capture elder abuse...
If a loved one passes away without a will and you handle the estate, you should know what steps to take. If a relative dies without a will and you are chosen to distribute assets to family members, you will most likely find it is not a simple process, according to the Napa Valley Register...
New tax laws raise a lot of questions, including the use of gifting. Gifting is usually done as a way of shrinking an estate as much as possible to lower the eventual estate tax burden. However, that may no longer be necessary for some people, according to My San Antonio in "How gifting of ...
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