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A little-known fact is that a Will becomes public record when someone dies and its filed with the court. Anyone can look it up. Seriously. Try it. You can go and pull up Babe Ruth’s Will if you know where to look. Perhaps this is how after his death there was a rise...
Never. The reading of the Will is a Hollywood fiction and a dramatic plot twist in many novels. However, today there is no gathering of the family in the lawyer’s oak filled and dusty library to discuss the final wishes of the family’s loved one. There is no morbid...
What digital assets you say? We don't always consider that we have such things but most of us do. Your email account, for example. Do you get invoices via email? How will your Agent under a Power of Attorney even know about a bill that has to be paid if that Agent...
Most people do not realize that their estate might have to be probated more than once: once in New Hampshire because they are New Hampshire residents and once again in Massachusetts, Florida, Arizona or wherever they may own real estate. Some of those states can have...
A properly drafted standard revocable trust can be the beneficiary of an IRA- the key words being"properly drafted". Using a trust as the beneficiary can be very helpful if the Grantor is concerned about asset protection for his or her beneficiaries. The US Supreme...
As the season for enjoying our lake or beach property is winding down, the issue of dealing with those properties in an estate plan may arise. The family vacation home is sometimes a very tough estate planning challenge. This is especially true when the beach or lake...
A Section 529 Plan (named for the Internal Revenue Code establishing these accounts) may be a great way to not only help your children or grandchildren with their education but also could be a great estate planning tool. With a 529 plan, you initially fund it with a...
Market Watch recently had an interesting article listing six ""Horror Stories" about beneficiary designations. Often overlooked in estate planning, beneficiary designations can be an extremely important planning tool- or a "Horror Story." The article can be...
Mistakes to avoid in an Estate Plan An estate plan is not something most people want to spend time on when thinking about the inevitable—our own mortality. If you don’t, however, you may be leaving a mess for your loved ones. It is not enough to just “make a plan.” It...
Inherited IRAs cannot be used for bankruptcy protection The US Supreme Court recently ruled that inherited IRAs are not "retirement accounts" for purposes of bankruptcy protection. Normally, a tax qualified retirement account is not available to creditors in a...
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