Any trust, in effect, is a written agreement between the grantor and the trustee on how the trustee will manage funds contributed by the grantor on behalf of the beneficiary. A special needs trust adds complications to this arrangement because the beneficiary often cannot guide the trustee on her needs and the trustee may have to be careful… Read More »
Every taxpayer has an estate tax exemption, which allows you to “shield” assets from the federal estate taxation. This federal estate tax exemption can be used to transfer assets to your beneficiaries, whether outright or in trust. Bequests to your spouse however are generally not subject to estate tax. The federal estate tax exemption amount (before taxation commences… Read More »
Oral wills, or nuncupative wills, are permitted in many states under limited circumstances. However, a form of guidelines should be utilized if you are planning on making an oral will to be assured that it will be honored.
At times, circumstances in our lives may change. This can be due to a remarriage, birth, death, divorce, change of address, change of executor or guardian, or other situations where our present will may not cover everything that we now believe it should, but for the most part, it is still factual. We may have acquired additional assets… Read More »
Theoretically, anyone with assets should have a will. A person without a will is said to have died intestate. When someone dies intestate, his or her assets generally pass as follows:
The question of a living will is becoming more and more popular as time goes on. Years ago the idea of designating someone to make such a personal decision regarding your life was unthinkable. Decisions were simply made by doctors and family members as to the best course of action without regard to what the patient might wish,… Read More »
Are you one of the nearly two-thirds of Americans who doesn’t have a Will? If cost or inconvenience has prevented you from composing your Will, you can stop putting off the inevitable today. Although in the past people primarily relied on attorneys to create their Wills, today you can compose your own completely legal Will quickly and easily… Read More »
Everyone has heard about a case involving a dispute over life-prolonging medical procedures. The stress and anxiety such decisions entail are impossible to imagine until you are burdened with having to make them. The only possible worse scenario is being prevented from carrying out your loved one’s wishes regarding life support treatments and care. One way to spare… Read More »
Should you enter a persistent vegetative state, become terminally ill, or enter into an irreversible coma, a Living Will ensures that your wishes, regarding your care, will be met, should you not be able to speak for yourself. Read this article to find out more.
Planning for arrangements in the event of your death may seem like a daunting, and even creepy task, but the peace of mind you’ll get makes it worth it. Who knows, it may even tack on a few extra days to your life. First off, whether they’re in a file folder in your home or in a bank… Read More »