Many well-off pet owners have left millions of dollars to their cats, dogs and even chickens—perhaps most notoriously Leona Helmsley, who left $12 million when she died in 2007 to her white Maltese dog Trouble.
Questions around death planning can feel overwhelming: Cremation or burial or natural organic reduction? What will your family want, and what will it cost? Do you really need to think about all this if you’re young and healthy right now—or can you put off these decisions until you’re older or dealing with a life-threatening illness?
Which tax-free transactions will trigger an estate tax, if the taxpayer dies after the higher exemption amount sunsets?
The law sometimes appears to contradict itself. Specifically, the words ‘anything and everything’ do not always legally mean ‘anything and everything’.
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
A pour-over will can be an important part of a person’s estate planning checklist.
Many people ask what would happen if they were in the hospital and unable to make their own medical decisions? The answer depends on whether you planned ahead.
A recent survey estimated that 68% of people die without a will. The consequences of dying without a will (‘intestate’) can be disastrous.
A power of attorney is a legal document with which a principal authorizes an agent to act on the principal’s behalf and for the principal’s benefit.
Frequent triggers also include changes in the health of executors and guardians; changes in laws, which may impact tax and legal strategies; and changes in state residence, which can also impact planning.
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