About 80 percent of Americans carry some type of debt. This includes credit cards and student loans as well as mortgage debt and personal loans.
Author Archives: Skvarna Law
The National Association of Home Builders reports that people owned 7.5 million second homes in 2018. This makes up 5.5 percent of the total number of homes. Such vacation property must be planned for, managed, and maintained. What’s more, they birth happy memories for their owners. Consider these estate planning questions to protect your place […]
Blended families challenge us in life and death. Someone with children from a previous marriage balances wanting to provide for their children and their spouse. Specifically, concerns arise relative to the money left to the current spouse.
Using a bypass trust is another way to avoid the estate tax. In this case, Meat Loaf could have created a trust to hold an amount equal to his unused individual lifetime exclusion amount ($12.06 million), with any excess passing to his wife either outright or through a marital trust, therefore bypassing estate tax liability.
By the time he died, Meat Loaf had appeared in hundreds of TV shows, endearing himself to a younger generation with roles in Wayne’s World and Fight Club. He married twice, and had two children.
Is everything the same today as when you signed your will, trust agreement, and other estate planning documents? If not, then take steps to make sure your estate plan reflects those changes.
Failure to take the time to craft an estate plan could leave the state where you reside at the time of your death in the driver’s seat. Laws in most states set forth how to apportion property.
People overlook many of these tasks and responsibilities on a day-to-day basis. However, consider how much money or time you would need to complete them if the stay-at-home parent is unable?
Many financial institutions allow account holders to sign documents that transfer funds immediately to another person upon the account holder’s death.
Most people prefer to keep this type of information private. So, the best way to ensure discreteness is to keep your estate out of probate.