While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home.
It’s generally a bad idea to name a trust as beneficiary of your IRA.
By definition, a Will accounts for a person’s wishes of how their assets and estate should be distributed and handled once they die. It spells out who should get what and who should do what, after the benefactor’s demise.
If the durable power of attorney can’t be transferred, what needs to be done to establish a new durable power of attorney for my aunt despite her mental incapacity?
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be tasked with carrying out a loved one’s final wishes.
Early in 2021, you should communicate with your advisers and review several items about your 2020 planning, if that planning is to have any likelihood of succeeding.
Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate taxes, while easing the administration of your affairs while alive and after you have gone.
In a massive turn of events, the Denver Broncos may finally get a resolution to the fiasco that is the team’s ownership situation; only it may not come in the way that it was originally planned.
Has a family member or close friend asked you to serve as their executor, trustee or power of attorney? If you accepted the responsibility, do you know what this entails? Have you been given a copy of the documents you were named under? Do you know when you would begin serving in these roles? These are all important questions to ask or consider.
Changes in tax laws could be affecting—and outdating—your clients’ wills and bequeathing plans.
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