Downs Law Firm, P.C.
Divorce significantly impacts estate planning, requiring updates to wills, trusts and beneficiary designations to ensure that assets are distributed according to new intentions.
Start by thinking of family and friends who share your values and have a loving bond with your children. They should be people you trust to raise your little ones with the care, wisdom, and courage of a legendary hero.
While a will is one of the most important estate planning documents you can have, there are things that a will won’t cover.
A badly in debt woman dies leaving the proceeds of substantial insurance policies to her children only to have her trust contested by relatives who claim an amendment naming the children as beneficiaries is invalid with no witnesses, misspelled names, suspicious signatures and was never given to previous trustees for review as required by agreement. A long, expensive, and protracted legal battle likely is brewing.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
Here are some important parts of your estate plan that should be reviewed.
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
At such an emotional time, more paperwork is probably the last thing you want on your to-do list. However, taking a few key steps is critical to your financial future.
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be carrying out a person’s final wishes.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
