Estate planning is a process in which clients work with attorneys, insurance advisors, accountants, financial planners, and other professionals to help develop a plan for their assets and how they are owned and managed. Estate planners are familiar w…
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The IRS recently released a revenue procedure that offers some widows and widowers more time to deal with the complexities of the estate tax. After a spouse dies, the surviving partner usually inherits the estate. In some cases, the IRS offers “por…
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A decedent will likely pass on both tangible and intangible property through their last will and testament. Questions often arise regarding the difference between tangible and intangible assets and how something that lacks a physical existence is cla…
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While a major life event will usually prompt a review of estate planning documents, what people sometimes forget is to check the designated beneficiaries of life insurance policies and retirement funds. There is more to keeping these current than jus…
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Digital movies, electronic books, email accounts, social media profiles, online games, digital photos, and other assets generally improve the quality of life for most people. Have you ever wondered what these digital assets are worth and what happens…
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A question often asked by clients with a Last Will and Testament is whether or not their will is valid in another state, especially if they relocate or live in multiple states throughout the year. This is an important question because the person’s…
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Actor Heath Ledger failed to redo the will he had signed before his daughter was born, leaving his entire $20 million fortune to his parents and sisters. The family of singer Aretha Franklin, who authored multiple contradictory wills, faced courtroom…
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Singer Prince died of a drug overdose in 2016 and did not leave a will. A six-year legal battle involving his $156.4 million estate recently settled, leaving his fortune and catalogue of songs split between a New York music company and three of his s…
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In a legal battle that gained worldwide attention, singer Britney Spears recently ended a 13-year conservatorship with her father, Jamie Spears. The coverage and resulting social media movement #freeBritney highlighted the topic of conservatorship, r…
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In a recent episode of the medical drama “Chicago Med,” an 18-year-old patient decides to put off lifesaving cancer treatment against her concerned parents’ wishes. Since the teen is an adult, doctors on the show must follow the law, respect he…
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