Learn from the past, set vivid, detailed goals for the future, and live in the only moment of time over which you have any control: now.
– Denis Waitley
Five words no one ever wants to hear from their doctor are “Get your affairs in order.” Unfortunately, 76 percent of Americans do not have a will, and it often requires a chronic disease, terminal illness diagnosis, or other life-changing event to prompt people to start the estate planning process. If you are facing a […]
What to Do When Your Doctor Tells You to Get Your Affairs in Order Read More »
An estate planning vehicle that has attracted much attention is the use of an intentionally defective grantor trust (IDGT). A grantor trust is a trust that the grantor, or in some instances, a beneficiary, is regarded as the owner for income tax purposes. This means that the owner will be subject to all income tax
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Creating a will ensures that all your wishes are carried out after your death. A will is the most common way for you to distribute your assets, like your home, to an heir. However, there are a number of other vehicles through which you can leave a home to an heir. Such methods can be
Proper estate planning: wills and trusts Read More »
There has been an increase in hostility among divorcing couples who prefer to go to court instead of attempt to work together in an effort to reach a compromise. The issues of contention are the same as they have always been, namely, child custody, support and division of property. However, the hostility has risen to
A rise in hostility among divorcing spouses Read More »
There are some estate planning issues that single parents are advised to consider when planning for the financial future of their children. Among them is the selection of a guardian who will raise their children in the event the parent dies or becomes incapacitated. The parent should think carefully about the choice of a guardian
Estate planning for the single parent Read More »
Divorce can be an extremely devastating experience, both emotionally and financially. According to some researchers, divorced spouses would, on average, require a 30 percent rise in their income to retain the same standard of living that they had before the divorce. Upon finalizing your divorce, it is recommended that you follow through on important actions
The financial effects of divorce Read More »
The Supreme Court recently heard a case concerning family law and military benefits in which there was a disagreement between divorced spouses regarding the wife’s share of the husband’s military retirement pay. John Howell spent 20 years in the U.S. Air Force, and pursuant to the divorce agreement, his ex-wife, Sandra Howell was to receive
Military benefits at issue in divorce Read More »
A sense of uncertainty has emerged under the new administration surrounding estate planning for the year 2017. President Trump has expressed his intent to implement significant changes to U.S. tax policy. However, the degree to which those changes will occur remains ambiguous. Nevertheless, there are strategies that individuals, families and small businesses can use when
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The prevalence of social media has made divorce proceedings far more complicated than they once were. The arrival of the Cloud and other comparable wireless storage implies that your “private” data may not be as concealed as you might believe. Even if you save your private photos, videos and documents to your phone, they may
The perils of social media in divorce Read More »
If you own property located in a state other than your domicile, you should not have to create another will in that state. The reason is that most states recognize a will that was legally executed in another jurisdiction. However, it may be helpful to have an attorney in the other state review your will
Probate in a state other then your domicile Read More »
