Many people struggle with the question whether it is better to leave their children an inheritance or not. It is not an easy question to answer. Recently, FOX Business reported on a survey that found some 23% of retired Americans would prefer to spend all of their money and not leave their children an inheritance [...]
If you would like to make a charitable gift to a specific individual, you can. However, you should be aware that there are rules that need to be followed. There are all kinds of people in the world who are in need of charitable assistance. Fortunately, there are many others with the means and desire [...]
People all over the world have been living longer and longer than in previous generations. That trend might be at its end in advanced nations. Most people would consider the fact that Americans live a lot longer on average than they used to a wonderful development. Many would like to see that trend continue. On [...]
If you have been divorced and remarried, do not consider yourself done with all of the legalities when your divorce is finalized and your marriage license filed. You still need to do some estate planning. For most people, getting divorced is a legal headache. There is all sorts of legal and financial paperwork that must [...]
If you have a family business that you want to leave behind for your children or grandchildren, it is important that you not only plan ahead, but that you also start easing the way for the transition. Any estate plan is going to be more effective the more you plan ahead for what might happen [...]
If you are one of the millions of Americans who do not have an estate plan, then the upcoming National Estate Planning Awareness Week is a great time for you to get one. More than half of American adults do not have a current estate plan. The benefits of having a plan should be obvious. [...]
New York state has passed a law that will allow people to be buried with the remains of their pets. Humans have always loved their pets or at least thought fondly of them. The last few decades have taken that to an entirely new level. People today routinely see their pets as members of their [...]
Families and estate executors have enough to worry about after someone passes away. Should they also have to worry about termination fees for canceling a contract with a utility? One state says no. If you have ever wanted to move to a different cell phone provider, you are likely to have come across a problem. [...]
Life insurance is a great way to provide your family with liquid assets after you pass away, but if the policy benefits would put your estate over the estate tax exemption, then you might consider a trust. When planning the estate of a family's primary breadwinner one of the biggest concerns is providing the necessary [...]
In a case of first impression the tax court has broadened when an estate can claim a theft loss. If the property of an estate is stolen, then the estate can report it as a “theft loss” and not pay estate taxes on the value of the asset. That is not a controversial issue. However, [...]