What are the Options for Splitting Assets in Blended Families?
The blending of families to create a yours, mine, and ours scenario is very common. In the ideal, the union of two individuals with offspring from prior relationships remains harmonious and uncomplicated even after the passing of each parent. In the best instances, each spouse treats the other’s children as their own, and family bonds strengthen.
What is a Probate Lawyer?
Since we can’t take it with us, as the saying goes, a probate lawyer’s job is to make sure your assets are distributed as you wish after you are gone. Proper execution means developing an effective estate plan, creating your will or living trust, and helping your executor pay the debts and distribute your assets to your beneficiaries.
How are House Deeds Transferred on the Death of a Parent?
When a parent passes, the executor and the children of the deceased may face several challenges while liquidating the assets of the estate. While some aspects can be somewhat perplexing, an experienced estate attorney will help to smooth the way.
What taxes influence how a will is written?
When considering the various components of your will, tax considerations should be an important element to discuss with your professional estate planner. After all, leaving your heirs with substantially less because of an unintended tax bite is likely not your intent.
How often should we review and update our wills, living wills, and advance directives?
When you were just starting out and beginning to accumulate assets, thoughts of caring for your growing family’s future if you were suddenly gone likely developed. While in your twenties or thirties, you began to save, invest, and maybe even purchased a life insurance policy to protect your family’s financial future in the event of unfortunate circumstances.
What Life Milestones Should Trigger a Review of Your Estate Plan?
Adapting to changing circumstances is important at any time of your life. When managing your estate, you should always be mindful that certain events could impact decisions you may have made in the past.
From the time you begin to accumulate assets, you should start considering how your passing could affect others and how you wish your property to be distributed. Estate planning becomes especially important when you have a spouse, children, and perhaps grandchildren to consider. (more…)