Everything each spouse earns during their marriage is community property. Fortunately, a gift or inheritance is separate property. However, that’s only half the battle.
I am a single retired parent to an adult daughter, who is an only child. The home I currently reside for the last 26 years still has a mortgage and the deed is in my name only. I have a will that states everything is left to my daughter, and then to my grandson, if she proceeds me in death. Should my daughter be added to the deed?
A last will and testament is a straightforward estate planning tool, used to determine the beneficiaries of your assets when you die, and, if you have minor children, nominating a guardian who will raise your children. Wills can be very specific but can’t enforce all of your wishes. For example, if you want to leave…
A Clark County judge has awarded Tony Hsieh’s father and brother administrative duties to begin the process of sorting out the Las Vegas visionary’s vast wealth and estate, after he died last week and left no known will or estate documents.
No matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.
Many people plan their estates diligently, with input from legal, tax and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth.
Creating a will is one of the most basic elements of estate planning. There are different types of wills you can choose from, including a simple will.
The tragic recent death of Tony Hsieh, the 46-year-old former CEO of Zappos, reminds us of the importance of estate planning.
Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.
If you pass away without a will, a state court generally decides who gets your assets and, if you have children, who will care for them.