Your legacy is what you leave behind when you die. Although the wealth you have accumulated during your lifetime is certainly part of your legacy, your legacy may encompass more than simply your accumulated wealth. Your ideals and principles are also part of your legacy. If you fail to create a legacy plan while you are still here to do so then you … [Read more...]
Estate Problems As A Result of Over-Funding Your Retirement Plan
You have likely heard how important it is to save for your retirement since you starting working. Likewise, you probably starting stashing as much money as possible as soon as your started working. There is certainly no debate that saving for your retirement is essential; however, if you end up significantly over-funding your retirement you can run … [Read more...]
Estate Planning and Charitable Giving — Key Points
If philanthropy is an important part of your life, then you should consider making it an important part of your estate plan as well. Your estate plan allows you to provide for your family and loved ones in the event of your death. That same plan can allow you to provide for the causes that are important to you long after your death as well. Only a … [Read more...]
Terms of Houston’s Estate Show a Trust Was Created for Daughter
The world suffered the loss of singer, actress and producer Whitney Houston at the age of 48 last month when she was found dead of unknown caused in her Beverly Hills hotel room. While fans responded by rushing to buy her work, her family braced itself for the possibility of a battle over control of Houston’s estate. Some of the fear of an … [Read more...]
Social Media and Estate Administration
Nebraska has recently introduced legislation that may be the first of its kind in the country aimed at allowing the executor of an estate access to social media accounts of a decedent. If passed, the legislation will give the executor of an estate the right to access and control accounts for sites such as Facebook or Twitter, as well as e-mail … [Read more...]
Trouble Brewing Already in Whitney Houston’s Estate
With the death of singer and actress Whitney Houston last week, sales of anything related to the performer immediately began to soar. Unfortunately, as is often the case when a substantial estate is involved, signs of trouble surrounding Houston’s fortune began shortly after her death as well. Once considered unstoppable in her professional … [Read more...]
Are Online Wills Reliable?
When people start looking for information about making their own will, they are often bombarded by internet offers that claim you can make your own will cheaply, easily and quickly. While some of these offers are legitimate, they are no substitute for the expertise and experience of a qualified attorney. Though an online will may be legally valid, … [Read more...]
Different Types of Power of Attorney
Powers of attorney are legal documents you can create to give other people the ability to make legally binding decisions on your behalf. There are a wide variety of powers of attorney available for you to use, differing by the powers granted, the time when the powers take effect and how long the powers last. Power of attorney laws differ … [Read more...]
Common Estate Planning Terms
To those who have no experience with estate planning, some of the terms used can make the process seem like it's written in a foreign language. Though unfamiliar, most of these terms are not difficult to understand. However, some terms are interchangeable and may have slightly different meanings depending on how they are used or the state in which … [Read more...]
Reducing Estate Tax Exposure
What a lot of people don't realize about the new tax relief bill is that it is going to sunset or expire at the end of 2012. If this takes place without any new legislation being enacted, the estate tax exclusion is going to be reduced down to just $1 million, and the rate of the tax will return to the 2001 level of which could be as high as 55%. … [Read more...]
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