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When Pablo Picasso died in 1973 at the age of 91, he left behind about 45,000 works of art – so many that it would take the entire Empire State Building to display them all at the same time – and yet he didn’t leave a will.
September is the most common birth month of the year. It’s also a good time for new parents to think about the financial side of their parental responsibilities.
Estate planning is all about ensuring that your wishes are met after your death. All estate plans should include a will and powers of attorney. However, in many cases, a trust has additional benefits beyond what can be accomplished with the will and powers of attorney.
These all-too-common misconceptions can steer your estate plans in the wrong direction right from the start. Here’s how to overcome them and tips to build the right plan for your family.
Tenancy by the entirety, commonly abbreviated as TBE, is an ownership structure for real estate that’s used when the owners are a married couple. Under a TBE arrangement, each spouse owns an equal interest in the property, and the property will transfer seamlessly to the surviving spouse, in the event of one spouse’s death.
A will itself is a legal document that describes the process of splitting up one’s personal property and possessions among family and loved ones.
When creating an estate plan, it may be necessary to name a trustee to handle your assets.
Only you know the strengths and weaknesses of your family members, putting you in the best position to decide if your spouse or your child can appreciate a trustee’s responsibilities.
For most of us, considering the distribution of the property we have accumulated over our lives is a painful reminder of our mortality.