Same-Sex Couples and Estate Planning

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The added problems that same-sex couples experience might exist in obstacles of estates left after one partner passes away or with making sure that the other spouse has a legal claim for the estate possessions. Additional actions are frequently essential to include a single person to the estate as well as putting both partners’ names on binding legal documents.

Offering Children

Numerous states within the country do not extend the defenses that are readily available in other states. One partner in a ...

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Medicaid and the Principal Home

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A conversation of your options when trying to secure your house while receiving Medicaid services.

Spending for the high costs of long term care today can be financially ravaging. For many couples the principal residence is their most important possession and securing that property in case one or both partners need to require long term care is of main concern for them as well as their children. Receiving Medicaid in order to pay for those costs will alleviate that problem. Medicaid ...

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Trusts 101: Comprehending Your Estate Plan’s Many Important Tool

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Trusts are a popular estate planning tool and in this age of an aging population, you can expect that this tool will be made use of much more.

Simply what is a trust? And what can it provide for you?
Put just, a trust is a separate legal entity that holds ownership to your possessions. You can continue to keep control over these assets and make with them as you want by selecting yourself as the Trustee. But it is the ...

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Professional Witness on Testamentary Capacity

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Experts are typically needed when a will should be evaluated either prior to or after the individual has died. Testamentary capability is concerned as the legal and mental capability of an individual to create or change a valid will.

Difficulties to a Will

Contesting a will usually happens due to emotional disputes, heated disputes over what might be left and various celebrations feeling wronged. Household dynamics of these circumstances is often lost when applied to the court. It is usually close household ...

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Action Required: Mobility

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The American Taxpayer Relief Act of 2012 (ATRA) extended and made irreversible (i.e., until Congress changes its mind) a variety of key estate tax arrangements. This consists of a $5 million ($5.25 consisting of inflation) estate tax exemption and portability of a departed spouse’s exemption to the surviving spouse. The result of this suggests that couples can shelter approximately $10.5 countless their estate from federal taxes.

What is “mobility”? Portability makes the federal tax exclusion quantity of $5.25 million “portable” between ...

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What Is the Application of Dower and Curtesy?

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Dower and curtesy are old terms that refer to married spouses’ property rights. These rights frequently develop in scenarios involving death and inheritance. They may likewise develop in other contexts and may prevent one spouse from offering or moving property without the consent of the affected spouse.

Dower

Dower is a partner’s interest in her husband’s property. When her husband dies, the other half is entitled to a particular portion or worth of her spouse’s property if he passed away without a ...

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Gina Reinhart– The Richest Australian Decides To Disinherit

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You may have recently heard the news out of Australia about the country’s richest lady, Gina Reinhart and her legal fight with her children over her choice to disinherit them from the household fortune. Ms. Reinhart is the successor to her daddy’s iron ore company approximated to be worth about $18 billion.

The details of the circumstance are somewhat complex, however the story highlights an all too typical situation where a parent wishes to disinherit his/her children.
This inheritance problem is ...

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Five Steps to Avoid and Decrease Probate and Trust Disputes

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Litigators can be beneficial when there are disputes over probate and trust litigation. Probate and trust litigation can turn households into opponents and transform inheritances into attorneys’ charges. These disagreements can sustained by sibling rivalry, mixed families, household grudges, financial need, privilege, vengeance, greed, or spite.

Litigators have a bird’s eye view of the issues which sustain such conflicts and are typically able to prepare for potential problems prior to they appear, so they might be avoided in the future.
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Elective Share of a Making It Through Partner

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When a couple is no longer able to stay tranquil, the estate owner may impact a plan of action to decrease what the partner receives upon the owner’s death, however elective share laws guarantee that the spouse does not receive anything through an inheritance. It is through the optional share that the enduring partner will receive something set at a fixed percentage of the estate.

Disinheritance and the Elective Share

The elective share regulations remain in place to avoid a partner from ...

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Limited vs. General Powers of Lawyer

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Powers of attorney are legal documents you can use for any variety of functions. Powers of attorney transfer to another person, called an attorney-in-fact or a representative, your ability to make choices or get in into arrangements. When you appoint a power of attorney, you give your agent the right to act upon your behalf as a stand-in, and the choices your agent makes are simply as lawfully binding and enforceable as if you had actually made them yourself.

However, powers ...

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