Downs Law Firm, P.C.
The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.
When you hear the word trust fund, you might think of wealthy kids a big chunk of cash on their 25th birthday. However, trust funds aren’t just for the rich. They are flexible tools to protect your loved ones.
The legal controversy surrounding Britney Spears is no secret. Her father has controlled her career and finances since 2008, a position she’s been fighting against for years.
Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees, and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances, like an heir’s disability.
Receiving an inheritance can be a double-edged sword. On the one hand, it’s overwhelming, thanks to the intense emotions associated with losing a loved one combined with the confusion about what to do with the newly acquired assets. On the other, an inheritance can re-invigorate your finances and create new opportunities for you and your family.
The best way to take precautions and ensure your pet will be well cared for is by doing some estate planning.
The most common question faced by special needs parents and caregivers is, ‘What will happen if I am not here?’
For most people, pets aren’t just animals–they’re the excited ‘hello’ when we get home from a long day of work, our jogging partners, our best friends, and part of the family.
Generally, when settling an estate, debts and expenses are paid first, charitable and spousal transfers follow, and applicable estate taxes are levied afterward.
Do not put off finalizing and signing your estate planning documents just because you have reached an impasse on who to name as trustee.
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