Search Results

are frequently used by wealthy individuals who want to pass down appreciating assets to heirs without incurring The grantor still has the right to live in the home for a set period.

One would think that big stars like Prince would have a team of high-powered advisors, compared to the This has included the likes of Abraham Lincoln, Prince, Sonny Bono, Jimi Hendrix and Pablo Picasso. Dying without a will can mean numerous potentially disastrous consequences, like your assets not being He was separated but not divorced from his second wife at the time of his death. As a result, his wife got everything. White’s live-in girlfriend of several years got zero.

And ideally you agree on the major issues like where you’ll live, when you both plan to retire, and what So you’ll need to answer questions like these: When will you each start drawing Social Security? When will you need to start withdrawing from your respective retirement accounts like IRAs and 401(k) When talking to them, make sure you cover things like a durable power of attorney, the executor of your estate, and the status of your will and living trust.

Like his mom, son Michael liked to buy war memorabilia and guns. Oh, and he married a stripper.

During this process, the court determines whether the will is valid, identifies the individual’s heirs, ensures

as part of your estate plan and can actually dictate that the money cannot be used for necessities like that your child will still qualify for the different government programs that they may need down the line

These people are most likely away at college or just starting their careers and probably have little The financial POA says who can access financial accounts—like a 401(k) and an IRA.

If you are looking at assisted living communities, Medicaid will not pay for room and board or rent in If the denial was due to a lack of supporting information, they will likely outline what documents you

Adding a spouse as a joint owner on most assets – like bank accounts, investment accounts or real estate – won’t generally create any immediate tax issues, but adding them to other assets – like a private

Try to Stay Focused on the Topic at Hand If there are two topics that most people don’t like discussing Power of Attorneys, money, driving and living arrangements are all categories that need to be discussed

Also, powers like the ability to capture trust income, the ability to retain a remainder or reversionary He or she can do the heavy lifting, allowing you to enjoy the benefits.

A trust for children can be established in the parent’s will or other testamentary documents—like a revocable of funds can be directed to be made at specific ages (e.g., 21, 30, or 40) or for specific purposes like