Downs Law Firm, P.C.
Incapacity can occur because of illness or an accident. It can be temporary or permanent. That’s why every adult needs a power of attorney in place, once they turn eighteen.
“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.
Creating a list of digital accounts and instructions on how to gain access to them is now akin to having a traditional will or a trust in estate planning.
John R. Nelson was Prince’s brother and oldest brother. He was born in 1944.
A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
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.
Per stirpes in a will means that a deceased’s child’s share will pass to the deceased’s child’s children in equal shares, if any.
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
How can we see if there was a will and if it’s worth pursuing?
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