One reason that people need to contest a will is fraud. However, there are different types of fraud. Let's look at three common types.
If you've been postponing putting an estate plan in place, you're not alone. No one enjoys thinking about what will happen after they're gone. However, estate plans typically are largely for the benefit of those left behind -- or those who have to make decisions if a loved one is incapacitated.
In light of the COVID-19 social distancing restrictions now in place, you and your attorney can now put a comprehensive estate plan in place without leaving your home? This is particularly important for older people who may put off their estate planning because it's difficult or dangerous for them to get out. However, anyone can develop an estate plan using videoconferencing and other alternatives to in-person communication.
Even if you don't think you have enough money to warrant drawing up an estate plan, if you own a house in Brooklyn, you've likely got an asset that's worth a lot. If you intend to leave your home to one or more of your children, it's essential that you do it correctly. Otherwise, they could end up dealing with time-consuming and expensive legal red tape.
What do professionals consider the greatest challenges to estate planning? That was the question asked by TD Wealth at an annual estate planning conference held in January. These professionals included attorneys, accountants, trust officers, accountants, wealth management professionals and elder law specialists.
As you spend time with family over the holidays, you may start to think about what you want your children, grandchildren and others to inherit after you're gone. Even though that time may be a long way off, you realize it's best to be prepared.
If a person dies without an estate plan (at least a will), state probate laws determine which relatives inherit their estate, what portion of it and under what circumstances. These people are called "heirs-at-law."
Married couples who don't have children often put off their estate planning longer than those who are parents. They don't have to worry about the issue of child guardianship if anything were to happen to them. There's also no need to determine how their assets will be divided among offspring. However, child-free couples should have some estate planning documents in place. Let's look at a few key ones and why they're important.
Most people would be quick to say that they have nothing in common with Jeffrey Epstein. The 66-year-old financier was facing multiple federal sex trafficking charges involving minors when he died last month -- reportedly by hanging himself in his Manhattan jail cell.
You've completed your estate plan. That's a tremendous accomplishment -- and one that too many people never get around to. You've got some peace of mind.