An ‘I Love You Will’ works great as long as everything goes as planned. However, there are three reasons that kind of will may not love you back.
There are times when it makes sense to leave more to one child than another.
It is commonly understood that upon death, our property will pass to someone else. However, the details of exactly how property passes often seem a bit more mysterious.
When you die, a section of law known as estate and probate law governs how your assets are distributed.
When someone passes away, whether unexpectedly or not, it can raise questions about who will inherit what. Specifically, you might be wondering whether in-laws have a right to any of the assets of the deceased person.
Estate planning is nearly always worthwhile but can be extra important when you have stepchildren.
Like most assets, you can inherit an individual retirement account (IRA) after the owner’s death. For spouses, inheriting an IRA is a relatively straightforward process.
First, debts in a person’s estate are payable from the decedent’s assets in the course of administering their probate estate or administering their living trust estate.
The word ‘paperwork’ has become an anachronism; most legal and business documents today are created, signed and stored digitally. However, a few actual pieces of paper remain vitally important to keep.
To protect assets effectively, you have to store them in the right legal entity. However, that can depend on whether you’re looking to protect business assets, avoid estate taxes, or protect personal assets from legal liability while running a business.
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