What will happen to your estate and loved ones if you become incapacitated from an illness, accident or age? Ideally, you would have addressed such a situation in a will. Incapacitation planning is an important aspect of your will and estate planning.
Without a doubt, the word "prenup" has made its way into many homes in the United States thanks to a string of high profile celebrity marriages. A postnuptial or postmarital agreement is a legal document designed for couples who are already married and is signed after the union has taken place.
In case you didn't know, the IRS has a criminal investigation division. And they are decidedly proud of their well-earned reputation as a law enforcement agency. As you may have guessed, the division focuses on traditional tax cases, but has also worked in the areas of tax-related identity theft, money laundering, public corruption, cybercrime and terrorist financing.
There are plenty of important decisions to be made when planning your estate: How to divide your assets, whether to make charitable donations and what kind of funeral you would like. One other important factor to consider is who will be the executor of your estate.
People learn from experience, by watching others. When the musician Prince died without a will last year, it kicked off an intense and lengthy probate process. His estate is worth an estimated $100 to $300 million. The lack of estate planning surprised everyone, considering the artist's level of control over his music during his career.
A trustee is tasked with managing the assets in a trust for the benefit of the trust's beneficiaries, and handling assets in the manner dictated by the terms of the trust. When a trustee fails in his or her duties, it is referred to as breach of fiduciary duty.
Alzheimer's disease is truly devastating, especially for the loved ones who are caring for their aging family member. While you desperately may want to step in and intervene and make sure your loved one is safe and getting the best care possible, all too often an adult parent will not be willing to cooperate. Rather, they will refuse the help you are trying to provide and insist on continuing to live their life how they want to - not recognizing the danger they are in.