Each of us will die eventually. This article looks at how planning can make your passing easier for your loved ones. Specifically, this article will look at the importance of the manner in which assets are left for your loved ones.Your Planning Can Help Your Loved Ones … [Read more...]
The Importance of Communicating Your Plans
Each of us will die eventually. This article looks at how planning can make your passing easier for those whom you leave behind. Specifically, this article will look at the importance of communicating your plans with your loved ones to avoid disputes after your death.The Importance of Communicating Your Plans … [Read more...]
How Can I Protect My Non-Citizen Spouse in My Estate Plan?
Not all that long ago it was fairly unusual for individuals from different backgrounds, much less different countries, to ever meet given the practical limitations of travel. Given that people rarely met people from other countries, they were even less likely to marry someone from another country. Over the last several decades, however, advances in science and technology have caused national borders to all but disappear. Nott surprisingly, a dramatic increase in intermarriage in America has … [Read more...]
Planning for Step-Children
If your spouse has biological children, you may consider them your own. But, if you haven’t adopted them, they have no inheritance rights. This article looks at how to plan for step-children.Planning for Step-Children … [Read more...]
Tom Petty’s Family Members Battle Over His Estate
One of rock’s legends, singer-songwriter Tom Petty, died of an accidental drug overdose on October 2, 2017 at the age of 66. As is so often the case when a blended family is left behind, tension between his widow, Dana York Petty, and his two daughters from Petty’s prior marriage over the estate he left behind started to build shortly after his death. That tension has not abated in the intervening year and a half. On the contrary, it appears to have gotten worse. Tom Petty’s estate is yet … [Read more...]
Clarity is Key to Planning
Clarity is essential in an estate plan. This article examines the case of Tom Petty, what he did right and what he did wrong. It shows that clarity can avoid problems later.Clarity is Key to Planning … [Read more...]
Consequences of Modifying an Irrevocable Trust
Irrevocable trusts often can be modified. They can be modified under the Uniform Trust Code or a state law decanting. While these modifications may be determinative of the state law consequences, they may not determine federal tax consequences. Read on to learn more.Consequences of Modifying an Irrevocable Trust … [Read more...]
Why Crowdfunding May Cost You Medicaid Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility.Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...]
Does Your Estate Have Sufficient Liquidity?
Creating a successful estate plan requires you to consider numerous inter-related goals and objectives. One goal that is often overlooked is the need to leave behind sufficient liquid assets in your estate. To help you create a successful estate plan, the Rochester estate planning attorneys at the Law Office of Michael Robinson, P.C. explain the need for estate liquidity.Understanding the Probate ProcessOne reason people frequently overlook the issue of insufficient estate liquidity is that … [Read more...]
Many Reasons to Plan
Each of us will die eventually. This article looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones.Many Reasons to Plan … [Read more...]
