Usually women sue their husband’s estate to enforce their right to the elective share of their husband’s estate. Of course, it’s not just wives that sue the estate of their husbands, but both husbands and wives who sue the estates of their spouses, be they husbands or wives. Enforcement of the elective share usually results from a lawsuit, although sometimes its enforcement of provisions of an Estate Plan that cause the lawsuit. This article isn’t about a lawsuit over the right to an elective … [Read more...] about A Real-Life Look at the Application of the Slayer Statute
Building a Legacy: The Importance of Estate Planning for Parents
Estate planning offers benefits to every adult; however, estate planning is especially important for parents. Not only does a comprehensive estate plan ensure that your assets will protect and provide for your children when you are gone, but it can also help pass down the legacy you want to leave behind for generations to come. To help you better understand, the estate planning attorneys at Legacy Care Law Firm discuss the importance of estate planning for parents. Why Is Estate Planning … [Read more...] about Building a Legacy: The Importance of Estate Planning for Parents
Gifting to Grandchildren
If you are fortunate enough to be a grandparent, you understand the joy a grandchild brings into your life. Becoming a grandparent may also prompt you to make some changes to your estate plan if you wish to include your grandchildren in your plan. When including your grandchildren in your estate plan, the North Andover estate planning attorneys at Legacy Care Law Firm suggest that you consider the following when making gifts to grandchildren: Contact Salem, NH Estate Planning Lawyers For … [Read more...] about Gifting to Grandchildren
How to Protect Your Spouse Using Your Estate Plan
If you are married, you undoubtedly want to protect your spouse in every way possible. Fortunately, your estate plan offers a wide variety of opportunities for you to do just that. In fact, a carefully drafted estate plan can protect your spouse from unnecessary litigation, from making difficult decisions, and from financial hardship. To help explain, the attorneys at Legacy Care Law Firm discuss how to protect your spouse using your estate plan. How Your Estate Plan Can Protect Your Spouse … [Read more...] about How to Protect Your Spouse Using Your Estate Plan
What Happens When You Don’t Trust Your Trustee – Part II
Trusts have become ubiquitous parts of estate plans. Many Estate Plans use revocable trusts as the foundation for the plan while others include irrevocable trusts. Regardless of the planning reason, every trust needs a trustee. The grantor may name the beneficiary as trustee, or the grantor may name another individual or entity as trustee, creating a natural tension between the beneficiary and trustee. If the tension becomes too great, the beneficiary may seek to have the trustee removed. As … [Read more...] about What Happens When You Don’t Trust Your Trustee – Part II
How Tax and Non-Tax Considerations Impact Estate Planning – Part II
People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the planning on their own without the services of a qualified Estate Planning attorney. As the last article in this two-part series demonstrated, numerous taxes impact Estate Planning. This second part of … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part II
Understanding and Manipulating Estate and Gift Taxes
Most everyone knows that each American can pass nearly $13 million in assets before worrying about an estate tax. In addition, it’s possible to pass an unlimited amount to a spouse without incurring any tax. Of course, to obtain the benefit of the unlimited marital deduction, the amount passing to the spouse must meet specific requirements. Read on to learn more. … [Read more...] about Understanding and Manipulating Estate and Gift Taxes
What Are My Options for Making Charitable Gifts in My Estate Plan?
For many people, charitable gifting is an important part of their daily lives. If you are among them, you may hope to make charitable gifting part of your estate plan as well. Charitable gifting can be handled in several different ways in your estate plan. The type of beneficiary, size and complexity of the gift, and the amount of control you want to have over how the gift is used will all impact how you make charitable gifts in your estate plan. With all of that in mind, let me offer some … [Read more...] about What Are My Options for Making Charitable Gifts in My Estate Plan?
The FTC Funeral Rule: Understanding Your Right
The loss of a loved one, even if anticipated, is never easy to handle. The hours and days that follow are typically marked by heightened emotions, lack of sleep, and general confusion. In short, not the best conditions for making critical decisions; yet that is precisely what surviving loved ones must often do. To prevent funeral and burial service providers from taking advantage of survivors during this time, the Federal Trade Commission (FTC) enacted the “Funeral Rule.” To ensure that you … [Read more...] about The FTC Funeral Rule: Understanding Your Right
10 Ways an Estate Planning Attorney Can Help You
To the average person, estate planning and related topics are typically unfamiliar. Unfortunately, this often means that people do not realize how an estate planning attorney can help them or when they need the assistance of one. In fact, most people are surprised to learn how many different ways in which an estate planning attorney might be able to help them. To help make sure you get the support, guidance, and assistance you need when you need it, the Beverly estate planning attorneys at … [Read more...] about 10 Ways an Estate Planning Attorney Can Help You
