What then happens when gifts made in a testamentary instrument, such as a will or a trust, lapse (fail) because the beneficiary is either deceased or is deemed to be deceased (such as with an ex-spouse)?
If You Haven’t Started Your Estate Plan, Now is The Time.
The simplest definition of a trust is a three-party fiduciary relationship between the person who created the trust and the fiduciary for the benefit of a third party. The person who created the trust is known as the “Settlor” or “Trustor.” The fiduciary, known as the “Trustee,” is the person or organization with the authority…
Denise Palmer Cockrum expected that her husband’s will would protect her from trouble, after he died. However, the DIY will that the couple created wasn’t signed or notarized correctly. She now finds herself in Dorchester County Probate Court fighting for her home.
The ugly public legal battle over Sumner Redstone’s estate plans has come to an end, as a Los Angeles judge on Wednesday ruled the 95-year-old mogul had the mental capacity necessary to amend his trust in 2015 and 2016.
While a longer life is a good thing, it will also present challenges – and unfortunately, sometimes financial predators.
Even a small mistake can create huge problems during the settlement process, and in many cases, these errors are impossible for anyone to correct.
It’s important to understand that Medicare Part A and Part B leave some pretty significant gaps in your health-care coverage.
According to the Tax Policy Center, in 2018 only 1,890 estates in the U.S.–a drastic reduction from prior years–were estimated to be subject to the estate tax.
An estate plan is the guide to how you want your personal and financial affairs to be handled, in the event of your incapacity or death. As life changes, your guide changes with it.