Let’s be honest: when it comes to estate planning, a lot of people prefer the bliss of ignorance to the bliss of wisdom. Wills, to them, are complicated things, reminders of our own mortality and therefore something to be put off into the future. And when you introduce the concept of a Living Will, the complications make the… 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:
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 »