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.
On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, qualified personal residence trusts, insurance trusts and other intentionally defective ‘grantor trusts.’
This type of will can ensure that your assets go where you want them to. However, there are many misconceptions about them.
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.
Other than covered entities and business associates, which other entities are covered by the HIPAA rules?
If you have a family member with special needs, you might face emotional and physical issues. However, you also may be concerned about maximizing the financial support that your loved one requires.
If a child you’ve added to your deed goes through a divorce, has tax issues, is sued by someone, or must declare bankruptcy, your house could be on the chopping block!
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!
An LLC is a particularly flexible form of business entity that is governed by statute and most often is organized in the estate planning context as a ‘manager managed’ LLC.
