One of the aspects of handling an estate that can prove problematic is when the IRS puts a lien on property. The IRS is capable of putting a lien on a piece of property or an asset in order to recover money that is owed to them after a person passes away. Internal Revenue Service [...]
Many individuals are looking forward to the future and the future generations when it comes to putting together a will and other components of an estate plan. However, you may also be interested in putting together an estate plan and in particular, your will to assist your elderly parents. Although no one wants to think [...]
A new study indicated that up to one-quarter of married adults shared that only their spouse understood the location of their power of attorney and the wills. That survey also indicated that less than 30% of adults knew the location of their parents' wills or details about the estate distribution plans or executor selections. It [...]
In general, probate refers to the legal proceedings by which your assets are analyzed and then distributed by the court. Everything that you own, including your land is distributed according to the MS intestate statutes. It can take up to one year for a probate case to make its way through the court system and [...]
Planning ahead for what will happen to your property after you pass away is an important venture and one that should be done under the guidance of an estate planning attorney. Most people don't want to broach the subject of estate planning as it relates to their real estate but it is extremely important to [...]
Research shows that Generation Y hopes to plan for retirement online as well as on mobile and they would prefer to do so with all the help they can get. This indicates an important societal shift that could occur as it relates to retirement planning and estate planning. Although millennials are typically defined as a [...]
There are plenty of times in life when it makes sense to handle things on your own or to avoid spending money that you simply do not have or do not need to spend to accomplish a goal. While there are numerous different examples when it does make sense to avoid hiring a professional to [...]
According to data from the U.S. Census Bureau, in 2012, there are 27.6 million businesses closely held in the United States. Business ownership and entrepreneurship are critical drivers of legacy creation as well as significant wealth, but it becomes even more important for the individual to approach estate planning from their personal perspective as well [...]
There is a good chance that you may pass away with some debts in your name. In fact, a recent study conducted by credit.com, identified that 73% of consumers have outstanding debt that was reported after they passed away. Those consumers carried an average balance of $12,875 in debt not associated with a mortgage. For [...]
Have you ever heard of a domestic asset protection trust? This is a tool in which you create a trust inside a U.S. jurisdiction in order to protect the person who is putting together the trust. One aspect that makes these different is that the person who creates the trusts and put assets into it [...]
