Is Estate Planning Affected by Property in Two States?
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
Like DMX and Prince, many Black Americans have failed to participate in the estate planning process.
According to the U.S. Department of Agriculture, a middle class family raising a child to adulthood will spend over $233,000 on that child between the ages of 0 to 18. That doesn’t even factor in the cost of college education, which can be thousands of dollars more per year once a child reaches adulthood.
You have many options to make sure your wishes are followed after you die.
For most people, entering the realm of estate planning can feel a bit like traveling as a tourist into another culture. Because the language itself is unfamiliar, asking a question can result in an answer that is equally confusing.
Without a valid will, a person’s estate passes to their surviving heirs under intestate succession (i.e., ‘succession without a will’).
Part of being a responsible homeowner is having a proper estate plan in place. After all, considering the home is generally the largest asset most people own, it’s prudent to ensure this asset is passed to the people you wish to leave it to.
Lewis established an irrevocable trust, in which he named ‘his son’s spouse’ as a beneficiary. At the time Clark, the son, was married to Vivian.
A will allows you to distribute your worldly goods, select a guardian for minor children and name an executor to carry out your wishes.
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