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“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers. According to the Pew Research Center, the divorce rate has more than doubled for people over 50 since the 1990s. The Pandemic is also adding to the uptick, says AARP's recent article entitle...

When you're gone, your spouse's income will take a major hit–one that can be worsened significantly, if you make the wrong decision about when to claim. Most people don't understand how Social Security works for themselves or their loved ones. Here's one major misconception: you can't file early ...

The law sometimes appears to contradict itself. Specifically, the words ‘anything and everything' do not always legally mean ‘anything and everything'. A power of attorney is an estate planning legal document signed by a person, referred to as the “principal,” who grants all or part of their deci...

What is a pour-over will? A pour-over will is a type of will that's created in conjunction with a trust. It can help facilitate the transfer of assets, if a trust's grantor (the person establishing the trust) has failed to transfer all intended assets into the trust. A pour-over will can be an im...

Brooklyn Beckham is understood to have signed a prenuptial agreement with his heiress bride-to-be Nicola Peltz. The $480 million fortune of 23-year-old Brooklyn's parents, David and Victoria, is dwarfed by the estimated $1.65 billion wealth of Miss Peltz's financier father Nelson.  How can the fa...

There was more than one will written by musician and music video pioneer Michael Nesmith, who came to fame in the 1960s as one of The Monkees rock group and died at his Carmel Valley home on Dec. 10, 2021. Theirs is evidence that musician Michael Nesmith of the Monkees had several wills. A handwr...

Dealing with the loss of a loved one is never easy. When inheritances, homes, estates and mortgages are involved, tensions can run high within a family. It is easy to get lost in the paperwork and terms. Inheriting a home with a mortgage adds another layer of complexity to settling the estate, as...

These vehicles let a family manage multiple interests, preserve parental control and protect assets from claims of creditors and divorcing spouses, among other benefits. Family Limited Liability Company's are used to protect assets, reduce estate taxes and more efficiently shift income to family ...

Your grown children will not agree to be the recipients of your downsizing, if it means their upsizing. Next Avenue's recent article entitled “Your Top 10 Objects Your Kids Don't Want” gives us a list of these items and what to do with them in your Estate Planning. Books. Unless your grown childr...

Being disinherited or left out of a will is the last thing you want to discover in the wake of losing a loved one. Although it can be very hurtful to not be included, the fact that a person is disinherited does not necessarily indicate foul play. If you think something improper or illegal was don...

Your dad bequeathed you a generous sum of money on his passing. Those gifted and inherited assets, in many instances, will be considered ‘separate property,' not marital property. That might mean that they might not be subject to division, if you divorce. However, perhaps you want to backstop tha...

In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so-called non-probate assets. In many families, more assets pass outside the Last Will...

The federal estate tax exemption and gift exemption is presently $12.06 million. A married couple can transfer $24.12 million to their children or loved ones free of tax with proper planning. The exemption is tied to inflation, so it will continue to rise. Why should most of us be worried about c...

Do you have a second home, summer property, or another vacation residence that your family enjoys? Have you thought about what happens to this property when you die? If you don't plan appropriately and thoughtfully and consult with an estate planning lawyer, problems may arise with respect to thi...

The Covid-19 pandemic has increased Americans' awareness of the need to have a will, living trust or other similar end-of-life document prepared. CNBC's recent article entitled “67% of Americans have no estate plan, survey finds. Here's how to get started on one” reports that just a third of Amer...

Motherhood and a later menopause could reduce the risk of women developing dementia. A woman with no children is 18% more likely to be diagnosed with dementia than a mother-of-two, a study of more than half a million people has found. The Daily Mail's recent article entitled “Motherhood and a lat...

The IRS wants to know how much you're gifting over the course of your lifetime. This is because while gifts may be based on generosity, they are also a strategy for avoiding taxes, including estate taxes, reports The Street in a recent article “Do I Need to File a Gift Tax Return?” Knowing whethe...

Long-term care insurance covers expensive nursing care needs. However, is it a good investment? Here's what experts say about what you should take into account. Long-term care insurance covers nursing homes, assisted living, and home health care expenses, explains WCAX 3's recent article entitled...

It took a lot of hard work and dedication to acquire your wealth. You want to transfer as much of it as you can to your beneficiaries. As a result, having a large estate means you'll have to pay quite a bit in gift and estate taxes. Estate planning includes using various methods to reduce gift an...

A study finds that the right diet may lower your risk of cognitive decline and brain disease later in life. Older people who hope to keep their brains in good health should eat more fish, according to a recent Senior Health study. Money Talks News' recent article entitled “Eat This Every Week If ...

A common and often costly mistake when it comes to business succession planning is not starting the process early enough. The pandemic has made many business owners rethink their business succession and retirement planning. Insurance News Net's recent article entitled “Succession Planning For Bus...

This is big concern for millions of older Americans who don't have a spouse, children or other family they can depend on to watch out for their well-being. Estate planning for the future is even more important for elder orphans than for those with a spouse or family members, according to this rec...

While it's never fun or pleasant to think about what will happen to them if the worst should happen to us, it's very important to consider how we can ensure that they are well cared-for when and if we are no longer able to care for them ourselves. Pet trusts are a legally binding arrangement in w...

Diana Rigg left her daughter Rachael Stirling £3 million of her fortune after a “traumatic” time living with her before she died, according to reports. Rachael Stirling, the 44-year-old London-born actress, is married to Elbow frontman Guy Garvey. She is also an actress and will appear in ‘Scanda...

The Internal Revenue Service (IRS) recently issued much anticipated proposed regulations that clarify and revise some of the required minimum distribution (RMD) rules for qualified plans (i.e., 401ks, 403bs, etc.) and individual retirement accounts (IRAs). Many of the proposed distribution rules,...