Handling the estate of a parent who has passed away can be very emotional for children, and this process can be even more emotionally tumultuous if their parent’s estate plan contains unexpected surprises. In cases where assets are not split evenly among children or there is an heir that comes…
Although planning for your death is unpleasant, it’s important to take the time to do so for your loved ones and family that you will leave behind after you pass away. Things such as a will, power of attorney, and wishes for your funeral and burial are all important parts…
This week (October 21-27, 2024) is National Estate Planning Awareness Week. Congress passed a resolution in 2008 for this to occur during the third week of October each year as it is estimated that over 120 million Americans do not have up-to-date estate plans to protect themselves and loved ones…
According to recent data, the majority of American investors in committed relationships say they trust their significant other and that both partners share the same retirement goals. However, over half of them have not yet put an estate plan in place. According to Ameriprise Financial’s “Couples, Money & Retirement” report, which…
Estate plans aren’t just important for older adults with large estates, they are also vital for young adults who own any assets to ensure that these assets will be handled according to your wishes should something happen to you. In this post, I’ll share about the documents you need to…
There are a number of milestones associated with young adulthood – such as landing your first job with a 401k, opening a savings account, owning a car, or buying your first home – that mean that you have an estate. An estate refers to your possessions, including tangible personal property…
The person you choose to be the executor of your estate could be a relative, trusted friend, or even a professional such as an attorney or financial planner. In some cases, your choice for executor may be very clear to you. If your spouse, for example, already knows your finances…
Like the quarterback of a football team, the executor of your estate is the person who calls the shots for and passes your estate through probate. Deciding who to “draft” for this role requires a lot of careful forethought. This post will focus on some of the responsibilities of an…
In the last post, I began writing about global families and estate planning for non-U.S. Citizen spouses. Today I will write about planning for international assets and bequests. Planning for International Assets and Bequests Because estate planning laws can vary greatly between countries, understanding the legal intricacies of your home…
Estate planning can be overwhelming for many people, and it can be even more complex for today’s global families with international loved ones or with assets outside of the United States. For instance, someone whose spouse is not a U.S. citizen must keep unique legal considerations in mind while creating…