Protect Your Family With an Estate Plan Overview In the event of incapacitation or death (God forbid), it is important that you have named who will control your health and finances and who will raise your children (if you’re a parent). If you don’t have an estate plan, your assets may be distributed through the…
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Thank you for visiting neallawaz.com to learn some basics about wills and probate. First, let’s define both wills and probate: A will is a document which states who should inherit a person’s property after passing, who should administer their estate during a probate matter (the “personal representative”), and who should serve as the guardian for…
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Heirs are growing more patient, but it might not be why you would think. It is because their inherited doles out more slowly. (Reuters) – When Juliann Reynolds’ husband died of cancer in 1992, she had to decide how to plan her own estate. The now-retired speech therapist from Rancho Cucamonga, California, knew she had…
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The greatest wealth transfer in history is underway, according to a new report. A study from the Boston College Center on Wealth and Philanthropy projects that $59 trillion is expected to be passed down to heirs, charities and taxes between 2007 and 2061. The study said heirs will receive $36 trillion over that period, while…
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The 2014 Oscars are complete. Trial & Heirs looks back at past Oscar winners like Philip Seymour Hoffman, Elizabeth Taylor, Heath Ledger, Frank Sinatra, and Marlon Brando. Their estates illustrate important estate planning lessons that everyone can benefit from — even those who aren’t walking the red carpet at the Oscars. 1. Philip Seymour Hoffman Estate…
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Most parents want to treat their children fairly in their estate planning, and many assume this means that their children should have an equal inheritance. But fair does not necessarily mean equal. In some families, there may be special circumstances to consider. For example, parents may want to provide more to a child who struggles…
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There are many myths about wills, trust and other legal documents, and what is appropriate for a particular family. Below are some of the most common myths and facts about estate planning: MYTH: I am young and don’t have a lot of money, so I don’t need a will. Wills are only for older and…
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The first step in creating a trust is to ask yourself what you want to accomplish. The whole idea of setting up a trust is to provide for your loved ones after your death. But how do you ensure the trust doesn’t run out of money? The keys, financial planners say, lie in setting up…
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