Many parents are uncomfortable talking to their kids about their wealth. Talking about how much money or property you have is usually viewed as taboo. Asking someone else about what they have is often considered impolite. But failing to talk to kids about how much...
When it comes to establishing wills and estate plans, older Americans outpace their younger counterparts. Still, a significant number — 19 percent of those over age 72 and 42 percent of those between 53 and 71, according to survey data — lack any type of estate plan....
It is essential that as your parents' age, you have conversations with them about their finances. To broach the topic, you might bring up current events like the coronavirus pandemic, its effect on economic conditions, and how it relates to the security of their...
In response to the COVID-19 outbreak, the Centers for Medicare & Medicaid Services (CMS) recently announced that it has increased access to Medicare telehealth services. This means that Medicare beneficiaries can receive more...
Estate planning aims to achieve a number of objectives including, but not limited to, designation of guardians, incapacity planning, asset protection, asset distribution and wealth maximization.
A joint will is a will that two or more people make together, rather than each making their own will individually. In practice, a joint will is typically created and signed by a married couple in order to dispose of property that they own together.
There are various reasons why someone would want to revoke a will. Many, if not most, people make more than one will during their lifetime.
Executing a will is the act of signing a will and making it legally binding. New York law has strict requirements for executing a will. First, a person executing a will must be at least 18 years old.
A will leaves the estate to named persons and organizations. Through a will, the testator can make specific gifts, distribute percentages of the estate, and create trusts for management and future distribution of all or some of the assets of the estate.
Estate planning can be overwhelming for many people, in part, because good estate planning involves planning not just for foreseeable circumstances, but for unforeseeable ones as well.
People often have misconceptions about how assets pass after death. Some even believe that if they do not transfer property they own to their children, it will go to the state.
Most people realize that estate planning is important, but nevertheless procrastinate getting it done
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