When it comes to estate planning, the complexity of your estate plan should generally match the complexity of your estate. It’s true that smaller and simpler estates call for smaller and simpler plans – but there’s more to estate planning, inheritance, and legacy management than a basic last will and testament. In most cases, you
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Not all families are harmonious, and not all estates are simple. When there’s more to your familial quarrels than a little pettiness, then it pays to be more specific and protective when it comes to estate planning. We all pass away eventually, but without exercising specific control over how your assets are distributed when you’re
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When formulating an estate plan, the ultimate goal is to effectively transfer one’s wealth to any and all surviving loved ones, at a minimal cost both emotionally and financially. For many families, the most valuable and important part of the estate is its real estate. For some this is the family home, for others, it
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Different circumstances can lead to a crucial family member being disinherited – being left out of the will of a deceased person. While most families only recognize these situations from the TV drama they create in the lives of A- to C-list celebrities, plenty of average families struggle with will disputes and arguments over inheritance,
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When real estate is part of a decedent’s assets, heirs and beneficiaries often choose to sell the home and split the proceeds. However, realtors involved in the buying or selling of homes in probate should know the potential risks involved with property in probate. 1. Negotiations Include More Parties Negotiating the price of a probate
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The costs for medical care can be quite high, especially towards the end of one’s lifetime. It’s troubling to think that a good portion of what you have saved up for your children will have to go towards keeping you alive and comfortable in your last few years – and depending on how much you
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When people think about estate planning, they tend to think about what will happen to their debts and assets after they die. While fewer people consider what happens if they become incapacitated, this part of estate planning is equally as important. Appointing a financial power of attorney is a way to prepare for the worst
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Over a dozen Category 5 storms have swept up the Atlantic since 2003, most often in the months of August, September, and October. Although we’ve been recording Category 5 hurricanes for nearly a century, the past 16 years account for over a third of the 35 currently recorded Category 5 hurricanes in history. As numerous
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Medicaid is a government-sponsored federal and state program to help people with meager resources and incomes receive the medical help they need. And for many retirees, it’s one way to help mitigate the high costs of a quality nursing home. But Medicaid eligibility is limited, based on income and countable assets owned. Past a certain
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In most cases, the home is the greatest and most valuable single asset of any given estate. While some can afford to own multiple homes or perhaps even possess assets with greater value than the average home, most families prize their family house as the financial crown jewel of the house’s owner – and as
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