Estate Planning Articles
The problem created by evenly splitting an interest in real property between your heirs. Many parents want to give an equal share of the family home or some other sentimental form of real property (actual land usually) to their surviving children in equal shares. As an estate-planning attorney, one often sees the strange problems created by such plans.
It isn't just the US Government waiting out there to grab a chunk of your hard earned estate when you become incapacitated or die. Strangely enough, state coffers are frequently enlarged through the mechanism of Medicaid. When someone requires long-term care in a nursing home, unless he or she has a private long-term care insurance policy, their whole estate may belong to the state when they pass on.
Expert Author: Jeff McLeod
Here's an estate-planning technique that allows you to lower the tax sting to your heirs, and that reduces your retirement income in case you don't think you will need all of your Individual Retirement Account funds in retirement. It's called a "stretch IRA," or "Multi-generational IRA," a complex investment tools that allow you to extend the tax-deferred status of your IRA long after your death.
In the not overly distant past, the writings of the testator were the only evidence of his or her intentions and mental capacity. Undue influence was harder to defend against when the only evidence was the testator's writings and the recollection of those around them.
Over views the consideration of putting a no contest clause into one's will if they feel the will is going to be heavily contested. Additionally, advises how courts react to such a clause and suggests an alternative consideration.
Over views the elements of capacity used to contest the legality of a will. Looks at mental deficiency, insane delusion and mental derangement characteristics that have been used to invalidate a will.
Over views incomplete estate planning and some laws that are in place to remedy the situation of overlooked heirs as opposed to those specifically disinherited.
Over views estate considerations that should be accommodated as widows and widowers (with their longer life spans) increasingly meet and decide upon a second marriage. Addresses for consideration a set of unique legal questions that those getting remarried, do not often think through.
Over views the care considerations for pets after their owner dies and possible alternatives to their owners estate planning and subsequent assurance the well being of their pets will remain important.
Often during the final years of a dear friend's or relative's life some person or persons will take over the task of caring for their sick and elderly friend or relative to a greater degree than the other people in their lives. This is sometimes due to sheer geography where the aged or sick person lives nearer to one set of relatives than to another.
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