Americans are, quite literally, getting buried in debt, with nearly half expecting to pass away with outstanding debts. As a rule, a person’s debts do not go away when they die. Some types of debt, such as federal student loans, are typically forgiven upon the debtor’s death. However, private loans and cosigned account holders may […]
Fitness icon Richard Simmons, known for his flamboyant personality, high energy, and trademark attire. He passed away in July 2024 following a fall at his Los Angeles home. A legal dispute lingers between his longtime housekeeper, Teresa Reveles Muro, and his brother, Leonard (Lenny) Simmons. The estate of the Sweatin’ to the Oldies star is […]
Losing someone you love to death is difficult. When your loved one’s mail continues to arrive, you may struggle even more. Once the court appoints you executor or personal representative of a deceased loved one’s probate estate, take these steps. The same is true if you serve as the successor trustee of the loved one’s […]
These words, uttered by James Earl Jones in his voice-over role as Darth Vader, are indelible in the minds of Star Wars fans. People know Jones also for voicing Mufasa in The Lion King and a series of cable news promotions in which he declared, “This is CNN.”
Congratulations! You are now legally an adult. Although you may not feel any different, from a legal standpoint, a great deal has changed. When you were a minor (under age 18), your parents were your legal guardians responsible for making all your decisions. Now that you are an adult, their legal authority over you is […]
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?
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.
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.
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
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.
