Wealth transfer can be protected from excessive taxation by applying tax avoidance principles. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. Assessing tax options can determine the best way to conduct…
A trust is not only a tool for the wealthy. In addition to serving many functions, they solve specific problems relating to the dynamics of families that have little to do with wealth. Do you want to keep your affairs…
It may be necessary for you to act as a power of attorney for a family member or a friend. Your person may be planning for when they might become unable to take care of their affairs. For example, they…
A probate court validates a will and ensures an executor manages the decedent’s assets and debts in accordance with the law and the decedent’s wishes. To begin probate, a personal representative or executor must file with the county court where…
Medicaid is a federal program that provides financial assistance to individuals who meet the minimum income and asset requirements for nursing home care, assisted living, in-home care, and adult foster care. As a result of these rules, many candidates give…
Guardianship most commonly implies that a minor child is under the care of an adult relative or friend. However, you can employ the process to obtain legal rights over elderly or aging adults, usually, parents, who are losing their physical…
The rivalry between siblings. In most families, it’s unavoidable. Depending on your particular family members and the dynamic between them, old rivalries from the past can become more significant when a parent passes. Adult children who are emotionally upset and…
What happens if your loved one dies intestate (without a will)? According to your state’s intestacy laws, a probate court will oversee the distribution process of the decedent’s property. Also known as intestate succession, it has similarities to the probate…
Probate sounds expensive and complicated, but it is simply a standard legal procedure formalizing how assets pass from a deceased person’s estate to their chosen beneficiaries or heirs. Whether or not you require probate depends on the type of property…
In addition to marrying seven women, legendary talk-show host, Larry King had five children with several of them. He died at age 87 on January 23, 2021, after contracting Covid and then succumbing to an infection. Immediately after his death,…