Forbes: “When I would tell people that I was working on a book about estate planning, many of them looked at me quizzically because they weren’t sure what I meant. Others said, “Oh, that’s not something I need, because I don’t have an estate.”
Contrary to popular misconception, you don’t have [...]
Question: I was recently divorced, but my estate plan names my former spouse in a few places. What should I do?
Answer: Revise your estate plan! You should always think about updating your estate plan when a major life event happens. Divorce or legal separation from your spouse is one of these events. [...]
California has finally joined the majority of states and recognized the tort of intentional interference with expected inheritance (“IIEI”). This adoption was done by the California Court of Appeals based on the fact that the IIEI claim is consistent with other California laws, the fact that of the 42 states that have considered [...]
JD Supra: “Beneficiary designations are forms that are routinely completed for life insurance policies, retirement accounts and even some bank and investment accounts. The forms say who will receive the asset upon the asset owner’s death. When a beneficiary designation is in place, it generally controls the disposition of the asset it is [...]
LD News: “A frequently overlooked aspect of estate planning is giving full consideration to beneficiary designations on life-insurance policies you possess.
It is important to keep in mind that if you prepare a will, the will does not usually control the distribution of your life-insurance proceeds. Therefore, when you are making [...]
Vitals on MSNBC: “Some do it with malice. Others, through a misguided notion that money or family heirlooms don’t really matter to the person. Whatever the reason, the plight of the disinherited — or those who may be cut out of the family wealth in the future –has been highlighted by a bitter [...]
Times-Herald Record: In elder law estate planning, we often think of trusts, wills, powers of attorney, health-care proxies and living wills as documents and tools to express our wishes in the event of disability or death.
One other very important facet of planning is the “beneficiary designation,” a contractual document that directs where an asset [...]
Forbers: Applying Murphy’s Law, “If anything can go wrong, it will,” to estate planning is crucial because in this case when something does go wrong, it goes very wrong and you aren’t around to fix it. Murphy’s Law at first glance appears to be overly pessimistic but the original intention of Capt. Edward [...]
Online Athens: I want to highlight some of the most common estate planning mistakes I think people routinely make (knowing that I can’t possibly cover them all in one column). You will notice that I’m not going to discuss the estate tax beyond saying that very few people are subject to it and [...]
US News & World Report: Preparing your finances for your death is a topic many don’t want to talk about. Death is inevitable, however, and if you don’t take the time to plan, your wishes (and your family’s financial security) could be at risk.
Everyone should make a few preparations to [...]
Examiner.com: Deciding whom to designate as a beneficiary for your IRA might seem like an easy decision—you probably want your money to go to someone near and dear to you. But is the person (or people) you’re thinking of actually named as the beneficiary on the particular IRA you opened all those years [...]
24-7 Press Release: Assets with beneficiary forms seem appealing to people trying to set up estate plans. Such assets have the benefit of going directly to the heirs and avoiding the lengthy and sometimes costly probate process. However, people need to make sure that they coordinate their named beneficiary assets with the rest [...]
Wills, Trusts & Estates Prof Blog: Even if an individual creates a well drafted will, he or she may unintentionally disinherit intended beneficiaries from large portions of his or her estate by failing to take proper steps regarding non-probate assets.
One such asset is a 401(k) plan. A surviving spouse is [...]
Smart Money: With the current $5 million federal estate tax exemption, you may not be thinking much about estate planning. After all, there’s no way your estate would owe the tax if you happen to die between now and 2013. So no worries, right? Wrong.
In fact, there’s an important estate [...]