Small steps have been taken to bring equality to LGBTQ persons. Same-sex marriages are allowed in more states than ever, many favorable changes have been made in the work place, and it is just a matter of time before a challenge to the federal Defense of Marriage Act (DOMA) is brought before the U.S. Supreme Court. However, since the fight is far from over, here are some retirement planning considerations available for LGBTQ individuals and couples: 401(k) beneficiaries Due to recent … [Read more...] about Work-Related Retirement Considerations for LGBTQ Couples
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The Coming Eldercare Crisis
A new article in Forbes highlights the numbers behind the aging American population and what that means for the country as a whole. As people get older their needs change. Those needs often require outside assistance, and much of the eldercare services provided every year come from friends or family members of an elderly person who provide that service without compensation. In 2011, about 40 million Americans provided some kind of unpaid eldercare services to a friend or family member aged 65 … [Read more...] about The Coming Eldercare Crisis
Can I Change My Testamentary Trust Terms?
Some people choose to establish a testamentary trust as part of their estate plan. When you make this type of trust you get to determine its terms and direct how the trust will operate by writing your choices down in your last will and testament. Modifying the terms of your testamentary trust is very easy to do, though it will require you to meet the same standards that you met when you created your last will and testament. Codicil You can often change the terms of the testamentary … [Read more...] about Can I Change My Testamentary Trust Terms?
If You’ve Recently Moved, Consider Changing or Updating Your Will
As a general rule of thumb, you need to review your estate plan any time you experience a major life event or a change in circumstances. One of these key life events, moving to a new state, should prompt you to review at least your last will and testament, if not everything else. There are both practical and legal concerns you will need to consider if you created a will in a different state and have since moved to a new one. Issue 1: Where are your representatives? As part of creating … [Read more...] about If You’ve Recently Moved, Consider Changing or Updating Your Will
FAQ about a Notice to File Claims in Probate
When we die, the estate that we leave behind goes through a process known as probate. It is during this process that any outstanding debts one may have owed will have a chance to be satisfied from his or her estate. In other words, the executor of an estate (i.e., the person responsible for “wrapping up one’s estate”) has a duty to try and take care of any outstanding debts, but, in order to do so, the executor or must have notice of that outstanding debt. 1. How do I let the … [Read more...] about FAQ about a Notice to File Claims in Probate
