There is no legal requirement that anyone give anyone else money or property when they pass. The law says that as long as you understand what you’re doing, you can give your assets to anyone you feel like giving them to, equal or not.
Portability allows spouses to combine their exemption from estate and gift tax. This allows a surviving spouse to use the unused estate tax emption of the deceased spouse.
What do these appointments mean to the person(s) named to act? What happens if they fail or decline to act? Can the planning appoint alternative representatives?
If husband and wife did not own together or separately any land, a house, a boat etc. but only rented a home and had no children, is the surviving spouse responsible to pay medical bills that insurance did not cover?
No one enters a relationship — be it personal or business — thinking it will fail. However, what happens when it does?
Email scammers sent an Uber to the home of an 80-year-old woman who responded to a well-timed email scam, in a bid to make sure she went to the bank and wired money to the fraudsters.
Federal estate taxes are no longer a problem for all but the extremely wealthy. However, several states have their own estate taxes and inheritance taxes that could still hit your heirs.
As government programs do not cover all expenditures related to these categories, ABLE accounts can be used to pay for shortfalls.
The way in which assets are titled can be vital.
Stan Lee’s estate is one step closer to clearing up a messy legal battle involving accusations of exploitation and elder abuse by the comic book legend’s inner circle, with the settlement of a lawsuit against Lee’s former business manager, Jerardo “Jerry” Olivarez.
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