Read more at www.askthelawyer.us. To read the complete analysis in our publication, click here, and on our wills & estates blog, click here. By Brian Figeroux, Esq. A partition action is a legal mechanism commonly used when two or more co-owners of a property cannot agree on what to do with the ...
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August is National Make a Will Month, a crucial time to address a fundamental aspect of estate planning that many people overlook: creating a will. A will is a legal document that outlines how your assets will be distributed after your death, ensuring that your wishes are honored and your loved ones...
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Maintaining an up-to-date estate plan in personal finance and legal planning is crucial for ensuring your assets are managed and distributed according to your wishes. But how often should you review and update your estate plan? In this article, we delve into why updating your estate plan might be ne...
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Estate planning is not just about drafting legal documents; it’s about securing your legacy and ensuring your loved ones are taken care of when you can no longer do so yourself. By taking proactive steps today, you can navigate potential threats that could compromise your estate plan and jeopa...
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When a person passes away and leaves behind an estate, they often name someone in the family as the executor of their estate: the person who settles debts, distributes assets to people mentioned in the will, arranges to have estate taxes paid, and so on. If you’re chosen for this role, it coul...
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By National Institute on Aging Many older adults are caregivers for their grandchildren or other young relatives. In the United States, more than 2.7 million children are currently being raised by older family members. These kinds of families are often called grandfamilies, in the case of grandparen...
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Death is inevitable, yet many people do not adequately prepare for their loved ones after their exit. When a person dies, their estate, referring to their property, assets, and liabilities, undergoes ‘probate.’ This legal process validates the deceased’s existing will (if there is ...
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No one likes thinking about death, but sooner or later, we all need to make plans for the inevitable. Some people assume that their possessions will automatically transfer to their spouse or other family members if they die. Unfortunately, this is not always the case. Estate planning offers some con...
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If you add up the value of everything you own and subtract the value of everything you owe, that’s called your net worth. When you die, it’s called your estate. While you’re still alive, you have the opportunity to designate how to divide your estate among your family and friends w...
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When planning your estate, ask loved ones if they have taken proactive steps to begin their strategy. Regardless of age, health condition or the number of assets, adults should have a plan in place to protect their family members after a death. It can be a challenging subject to approach, but devel...
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