If you live in one of the above states, the debts your spouse incurred during marriage become your debts. As a result, if you cannot repay an insolvent estate, the court could rule you responsible for repayment.
Category Archives: Estate Planning
10
Jun
Jun
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 […]
26
May
May
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.
20
May
May
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.
13
May
May
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.
Estate Attorney, Estate Planning, Guardianship, Life Changes, Trusts
Update Estate Plans as often as a Resume?
06
May
May
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.
California Law, Estate Planning, Estates, Life Changes, Probate, Trusts
Time for an Estate Plan Checkup?
29
Apr
Apr
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.
15
Apr
Apr
Many financial institutions allow account holders to sign documents that transfer funds immediately to another person upon the account holder’s death.
08
Apr
Apr
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.
01
Apr
Apr
Your estate attorney can set up joint ownership to create and transfer property. However, this solution comes with its own set of concerns. TOD and POD accounts efficiently and immediately transfer funds to the named recipient after the account owner’s death, outside of probate.