The family’s attorney and family office advisors should exercise caution in a marriage in which there are children from a prior marriage or other nonstandard family situations.
You cannot name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies.
If you die intestate, this means that you died without a valid will in place.
When was the last time you updated, or even thought about, the beneficiary designations listed on your retirement accounts, life insurance, or annuity contracts? If you don’t remember, it’s time for a review!
One major misconception is we simply can tell loved ones what we want to happen for the purposes of health or property distribution and family members can ensure that those wishes are followed.
When someone passes away, it’s up to their executor to handle the probate process. However, what happens if the executor of a will dies?
The conditions for amending a trust, including who has the authority, is usually set out in the document.
Dying intestate can have unintended consequences for pretty much every family type. However, it is especially painful if there are unmarried partners or stepchildren, who are left out under the law in almost every scenario.
First, debts in a person’s estate are payable from the decedent’s assets in the course of administering their probate estate or administering their living trust estate.
Part of the agency’s latest annual ‘Dirty Dozen’ scams, these potentially ‘abusive arrangements’ involve charitable remainder annuity trusts and monetized installment sales.
