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Personal property is a unique category of asset. Even in the simplest after-death distribution, personal property can become a hindrance to final distribution. There are a couple of reasons why.
The availability of long-term care insurance policies is continuing to decline, even as the need for such care is growing, an interagency task force led by the Treasury Department has said.
The passing of a spouse is a devastating time in a person’s life and one that throws their world into turmoil. While in the midst of grieving, they’re confronted with a multitude of responsibilities requiring their attention — not only the immediate tasks of preparing for memorial services and notifying family and friends, but also beginning to tackle the requisite legal notifications and financial changes.
During estate planning, one of the situations that you must plan for is the possible sale of real estate, artwork, and especially operating family businesses. What is sometimes overlooked in planning is what happens after there has been such a sale.