HIPAA The Federal Health Insurance Portability and Accountability Act of 1996 (HIPAA) provides guidelines to the healthcare industry for protecting patient information and preserving privacy. This is usually a nonissue for minors because parents, as legal guardians, generally have access to their children’s medical information, make most of their medical decisions, and pay the expenses.
22
Nov
Nov
With a defective deed or a deed discovered before the owner dies, address problems by preparing and recording a corrective deed. Do so in the applicable public land records, depending on your state law. Do this only with the assistance of an attorney. In this way, you will ensure that the correction is actually a correction and causes no additional issues with the deed or property title.
15
Nov
Nov
You regularly check the balances of your retirement, bank, and investment accounts. But when did you last check the beneficiary designations on these accounts? And really, all the other accounts that allow you to name a beneficiary?
08
Nov
Nov
According to a stipulated agreement with Iswarienko, Doherty’s estate was able to retain the couple’s home in Malibu, California; a Salvador Dali painting; several cars; and all earnings from her acting. In addition, as part of the divorce proceedings, she had filed an income and expense declaration stating that she had $251,000 in the bank; another $1,880,000 in stocks and bonds; and insurance money from a lawsuit over damage done to her California home. She also stated that she had real property worth $3 million and $134,000 in a pension fund.
01
Nov
Nov
In cases where more than one family member is interested in the same item, the best-case scenario is that they can reach a peaceful resolution, perhaps involving trading other sought-after items. If there is an impasse, beneficiaries could sell the item in question and divide the proceeds equally. Another option is for one beneficiary to buy out the other beneficiary’s interest in the item. They could also draw straws or flip a coin. The solution may depend on whether the dispute is over a single item, like a ring, or over multiple items, resulting in a breakdown in the peaceful division of items.
Assets, Estate Administration, Estate Attorney, Estate Planning
Scary Estate Stories: Left Out of Your Parent’s Estate Plan?
24
Oct
Oct
More than half of millennials say they expect to inherit approximately $350,000 or more from their aging parents. But baby boomers say they plan to leave far less than that to their kids. One survey found that many do not plan to leave behind any money.In another study, just 26 percent of Americans, including 22 percent of baby boomers, said they expect to leave an inheritance
18
Oct
Oct
You may run into situations in which third parties require the nominated individual to exercise explicit authority. They may need to complete tasks or manage your financial affairs. If this is the case, you will want it done in a way that is not provided through a signed financial POA. In these cases, if you no longer have capacity, your loved ones may need to go before a judge.
11
Oct
Oct
Admittedly, no one makes a suitable substitute for you as a parent. Nevertheless, a guardian steps in when you pass away to assume your parental role and raise your minor child through legal adulthood. Conversely, a trustee manages the financial legacy you leave behind for your minor child. As a parent, you need to consider the skills and characteristics each role requires to ensure that you nominate the right people for the benefit of your child and their inheritance.
04
Oct
Oct
Make sure you understand the basics of what each role entails. Furthermore, you should understand to consider when making your choices can help ensure that your estate plan is effective.
27
Sep
Sep
Its terms do not apply when the pet owner is alive but incapacitated and can no longer care for the pet. That’s where incapacity planning comes in. Therefore, the pet could be left in legal limbo if the owner is sick, comatose, disabled, or otherwise unable to care for their pet.