For years, many people expected to pay off their mortgage long before they died, but the current financial landscape paints a much different picture, especially as more and more seniors take out mortgages and home equity loans to cover the cost of living expenses. An analysis of data from 2001 – 2011 showed the number.
The short answer is: it depends. This is a question we get a lot, and one we typically discuss at length with non-married parents during our planning sessions. When one of the parties of a divorce decree dies, this will end the custody agreement because there’s no longer anything to govern. In most cases, custody.
Inheriting an IRA can be a financial blessing but you have to be extremely careful about withdrawing the funds. There are a number of mistakes you can make that can result in a missed opportunity for tax-deferred growth, or worse, a huge tax bill. Luckily, surviving spouses have some leeway. It’s still tricky to transfer.
One of the more critical aspects of a Summit County wills and trusts lawyer’s job is making sure that a trust is properly funded. This necessarily also involves recognizing that certain assets should not be funded to the trust in order to avoid unintended tax consequences. While the attorney can oversee the funding process and.
A common question that Cuyahoga County estate planning lawyers encounter is how the proceeds of an estate will be handled when the beneficiary becomes divorced. We don’t want to think of our children having to deal with the pain of a divorce, but losing the inheritance you left behind (and worked so hard to accumulate).
Estate planning lawyers in Geuga County are most often considered by folks who want to put their end-of-life affairs in order. The lawyer helps them draw up important documents such as powers of attorney and medical directives, as well as a plan for how the individual’s property will be distributed upon his or her death..
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