Do I Have to Accept an Inheritance?
No one has to accept inherited assets. Inherited assets can be disclaimed.
No one has to accept inherited assets. Inherited assets can be disclaimed.
The passing of a spouse is a devastating time in a person’s life and one that throws their world into turmoil. While in the midst of grieving, they’re confronted with a multitude of responsibilities requiring their attention — not only the immediate tasks of preparing for memorial services and notifying family and friends, but also beginning to tackle the requisite legal notifications and financial changes.
If you decide to leave assets in a trust for your beneficiaries, consider your designation of trustee carefully. The most important person in the trust framework is the trustee, the one responsible for managing trust assets.
As part of your estate planning, don’t forget to consider a power of attorney.
Thanks in part to the economic impact of the COVID-19 pandemic, don’t bank on a big cost-of-living adjustment (COLA) for your Social Security benefits in 2021.
Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.
The list of things you need to do after someone dies can seem endless, especially during a time when you are also grieving.
Second honeymoons are definitely romantic. A third is even more so, unless maybe if each was with a different person. Nothing wrong with that, but it is a game-changer. The will or agreement you wrote 20 years ago, which maybe you have misplaced or forgotten, may not reflect your current thinking — or soulmate.
Almost three times more Americans are killed by dementia than previously thought, new research has found.
A revocable trust is great for many reasons, but it does NOT protect assets from nursing home expenses.