Do I Have to Accept an Inheritance?
October 2, 2020
No one has to accept inherited assets. Inherited assets can be disclaimed.
Downs Law Firm, P.C.
Inheritance
Inherited IRAs Require Careful Handling
August 27, 2020
One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.
What Should I Know about Beneficiaries?
August 11, 2020
When you open a financial account, you’re often asked to name a beneficiary. Simply stated, a beneficiary is someone who is entitled to the benefits of the account on the death of the account holder. For example, if you’ve purchased life insurance, you name a beneficiary who receives the benefits of the policy when you pass away.
Can I Disinherit Anyone I Want?
August 6, 2020
So, you’ve decided that a family member won’t be getting an inheritance after all. Maybe you have an ungrateful or irresponsible family member you want to cut out of the will.
Preparing Children for Future Inheritances
August 4, 2020
By discussing finances with your children early and often you can set them—and future generations—up for success, when it’s time to receive the wealth you’ve accrued.
Your Estate Plan Needs to Be Customized
July 28, 2020
Estate planning documents often are treated like the photocopied permission slip for a child’s field trip. You fill in your name, include the children’s names and dates of birth, and sign. The document is filed away to be used if needed, but you really never expect it to be used.
Benefiting from the SECURE Act and CARES Act
June 30, 2020
There have been several law changes that affect IRAs passed since December 2019.
A Wave of Baby Boomer Downsizing is Coming
January 2, 2020
As baby boomers reach their golden years, millions of homes will be sold as a growing number of homeowners across the country downsize or pass away.
Who Pays Your Credit Cards When You Die?
September 16, 2019
Unfortunately, credit card debts do not disappear when you die. Your estate, which includes everything you own–your car, home, bank accounts, investments, to name a few–settles your debts using these assets.
Why is Amy Winehouse’s Ex Filing a Claim on the Late Singer’s Estate?
September 12, 2019
The ex-husband of Amy Winehouse is making a $1.4 million legal claim on her estate —eight years after her death.
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