Losing a loved one is always tragic. When that happens, it can be challenging to focus on the attendant legal issues if you are a trustee or executor of the estate. One thing that can help is to have basic questions about the estate addressed.
Alan Thicke was an exceptionally successful entertainer. He is remembered by millions for his portrayal of Jason Seaver, the father on the hit show Growing Pains. He played the role for seven seasons.
After a loved one's death, you have to handle a lot of things. One of these things might be the estate administration duties. If you are the person who is responsible for this, make sure that you know what you need to do because any mistakes can be rather costly.
Estate planning is for everyone, not just those who are firmly established and have what is perceived as abundant wealth to share. The truth is that you probably have something you want to safeguard for your loved ones, no matter what economic stage of life you are in. For 30-somethings, estate planning should be a no-brainer; here are three reasons why.
It's understandable that individuals put off estate planning; these things can be overwhelming or even frightening to consider, especially if you don't have the right professional help to work through the process. But estate planning doesn't have to be frustrating or scary, and getting your plans on paper with the help of an experienced lawyer can actually reduce your stress by providing you with peace of mind about the future. If you ignore estate planning needs, on the other hand, your heirs can experience the consequences.
If you see injustice or unfairness, you're supposed to speak out, right? What happens when the injustice you see relates to the estate of a friend or loved one, and you believe that the will that has been filed isn't actually valid. Perhaps the information in the will just seems bizarre and isn't in line at all with what you knew about the person's wishes. Maybe you even know about another possible will and thing that one is the valid one. What do you do about these concerns?
IRAs are often touted as a good solution for those who want to save for retirement, and there's nothing untrue about that claim in most cases. As with any financial plan, you probably want to make sure you spread your eggs into several baskets, but an IRA is a great way to reduce tax burdens and ensure you have funds during retirement. But what happens if someone passes away with funds still in their IRA?
You may have heard of the term "probate" without ever really understanding just what is means. In simple terms, probate is the process of transferring property previously owned by a decedent to the beneficiaries and heirs after the death of the person.
You're reading this, so you must have some interest or curiosity about estate planning and what it centrally encompasses.