Search Results

incapacitated, you would have to go to court in order to be given the legal authority to become your parent’s guardian

The Indiana Lawyer recently published “Do-it-yourself dangers” that explains how do-it-yourself estate One attorney represented parties in an estate where a will wasn’t valid, which meant that the decedent He had wanted his estate to be shared equally among his children, but because the DIY estate plan wasn The probate court applied state law and divided the estate between his children. if the will was done correctly by an estate planning attorney.

elective shares or homestead rights, and have not thought of the effect of their remarriage on their estate states, the rights that a spouse automatically gains upon marriage may include: The right to be the guardian representative of a deceased spouse; A right to an “elective share” percentage of the other spouse’s estate limited to the intestate estate; and if the decedent leaves no descendants, then the surviving spouse will usually get 100% of the intestate estate.

“I don’t know what will happen to the things I have in the Cloud or Facebook when I die,” said Paul Savides from Eau Claire. He believes it’s very important that the state create a way of protecting the privacy rights of those people who have those things online after they die. Our digital footprint is fairly permanent, but we are not. “If there’s a way we can modernize our laws, streamline this, and create a system, we can try and take some of that stress off of people as they’re navigating already emotional territory,” said Rep. Melissa Sargent (D) Madison. Representative Sargent said she wants to bring Wisconsin law up to date with technology by getting a bi-partisan bill through the State Legislature that is aimed at protecting individuals’ online assets after they die. The definition of “property,” of course, continues to evolve over time in this more technological and more digital world in which we live. The bill tries to remedy that issue. The bill allows users to provide their account information to someone designated by them for management after they pass away. For example, Facebook has designed a legacy setting that permits users to do this. However, in the absence of those types of settings, a will or power of attorney could be used. Digital assets frequently have great value, so it’s critical for individuals to make certain that their property is protected. Wisconsin’s legislators feel that we should at least have that fiduciary standard in place to protect that data, so it’s not just released to someone only because they’re a family member. This bill, they believe, would be a solid first step in tackling the modern day issue of digital property. The bill is heading for approval in the State Senate. Reference: WEAU.com (February 25, 2016) “Law aims to protect internet users’ digital property after death” #AssetProtection #HoustonEstatePlanning #DigitalAssets #PowerofAttorney #Wills

An estate planning attorney can provide valuable guidance.

This article is based on a conversation by Kim Hegwood, estate planning and elder law attorney, and Ruth To schedule a strategy session to discuss estate planning or elder law, call our office at (281) 218-

Brooks says this type of estate planning and strategies saved the farm.

pass down appreciating assets to heirs without incurring a hefty gift tax and to lower their overall estate-tax total pretax return that exceeds that hurdle rate, the excess return passes to heirs free of gift and estate A qualified personal residence trust will freeze the value of the property for gift-tax and estate-tax Meet with an experienced estate planning attorney to determine if these wealth transfer strategies make Reference: NASDAQ (December 23, 2015) “Estate Planning: How to Adjust to Rising Rates” #EstatePlanningLawyer

she did not object to the settlement but needed more information than what has been given her by her guardian

seniors protest at courthouse,” the Legislature’s action follows newspaper reports of professional guardians standard practices and rules for professional guardians. There are many more of these professional guardians in the state. Legislators said that with so many retirees coming to Florida, they need to feel safe that their estates aren’t going to dissolve at the hands of unscrupulous guardians and their representatives.

’s (April 20, 2016) “Rolling over Retirement Savings to a Health Savings Account” #AssetProtection #EstatePlanningLawyer

Talk with an experienced estate planning attorney to see if this might be applicable for your family. Reference: Motley Fool (January 18, 2016) “Taxation of Family Trusts” #HoustonAssetProtection #EstatePlanningLawyer #EstateTax #NonGrantorTrust #GrantorTrust #HoustonInheritance #FamilyTrust #TaxPlanning