Created to own and control a life insurance policy or policies while the insured is alive, Irrevocable Life Insurance Trusts (ILITs) are tools that are sometimes recommended by estate planning attorneys and financial planners.
Priscilla Presley has filed legal documents disputing who oversees the estate of her late daughter Lisa Marie Presley.
Memory decline was slower for older adults who had a healthy lifestyle, even for people with high genetic risk for Alzheimer’s disease, data from a Chinese study showed.
Probate is the process of proving a will and settling an estate after an individual (decedent) dies.
A not uncommon estate planning scenario is an elderly parent who lives with an adult child, either at the parent(s)’s home or at the child’s home.
Priscilla Presley believes she should be in charge of daughter Lisa Marie Presley’s estate. However, a legal document filed seven years ago suggests that wasn’t what the singer-songwriter wanted should she die.
It is a common misconception that once the estate plan is prepared and executed, it does not require any further attention.
A guardian is someone who is appointed by the courts to assist another with their personal and medical affairs.
Estate planning isn’t just for the ultra-wealthy, nor is it something you should put off until your golden years.
Trusts are excellent vehicles for probate avoidance, ease of transition of funds to one’s beneficiaries upon death, asset protection planning and estate tax planning.
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