Estate planning is not a requirement. No one can force you to make your will, create a power of attorney or to own your property in a way to avoid probate. As a result, people too often let common estate planning excuses stand in their way.
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
In estate planning, the use of trusts to manage the distribution of assets is becoming increasingly more common. However, for many people, the idea of setting up a trust during his or her lifetime is overwhelming and perhaps even unnecessary.
Being married is significant both for a married person’s lifetime estate planning and subsequent administration of the estate at death. Important rights and responsibilities exist between married persons.
Getting your estate plan in place is never a ‘one and done’ task. Estate planning is an ongoing process and should be viewed that way.
Trusts are often associated with the rich, but the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.
When actor Chadwick Boseman died, he didn’t have a will. Neither did recording artists Prince and Aretha Franklin. Each time the news broke, there was surprise that such notable names hadn’t made estate plans. Yet, estate planning isn’t as common as experts argue it should be, particularly among Black Americans.
You have many options to make sure your wishes are followed after you die.
Adult children typically don’t have to pay their parents’ bills. However, there are exceptions. Even when a child doesn’t have to pay directly, debt could reduce what they inherit.
Wendy Williams has asked a New York court to restore her access to a bank account that was frozen amid talks about the media personality’s ongoing health issues.
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
1601 N. Flamingo Road, Suite 1
Pembroke Pines, FL 33028
