In the recent case of Odom v. Coleman, a brother and sister initiated legal action against another in a matter involving their father’s estate. The dispute between the two siblings focused on whether the father’s estate should be reformed in accordance with Texas Estates Code Section 255.451(a)(3) that allows courts…
Articles Posted in Uncategorized
4 Details about Utilizing Crisis Medicaid Planning
Medicaid is a federal and state program available to individuals who satisfy certain eligibility requirements. Disbursements from Medicaid are designed to help people pay for long-term care costs. Long-term costs often create substantial financial challenges for elderly Americans as well as their loved ones who lose both time and income…
4 Ways to Care for a Loved One in a Nursing Home
There are more than 40 million family members in the United States who act as caregivers for loved ones. There are also many ways to provide the requisite care for your aging loved one. If you recently placed a loved one in a nursing home, you’re likely still getting…
3 Details to Remember about Signing Estate Plans Remotely
The coronavirus pandemic has substantially altered the way that we engage in business. There are, however, ways to sign estate planning documents remotely without needing to be in close proximity to anyone. To better prepare you for navigating the estate planning process remotely, this article reviews some important details…
3 Things to Remember About How Adoptions Impacts Estate Planning
Many families in New York, as well as the rest of the country, are considered “blended”, which means that many families bring children from previous relationships into new relationships or marriages. Whether or not a family is blended can end up influencing how families should structure estate plans to achieve…
3 Critical Things to Remember about New York Holographic Wills
In the recent case, In the Estate of Hohmann, a person passed away without leaving an executed will. The deceased man’s caretaker, however, found a handwritten document where the deceased man stated his wishes for his assets. The deceased’s cousin later applied to probate the handwritten document like a written will.…
Lessons Learned After IRS Proposes User Fee for Estate Tax Closing Letters
Executors as well as the personal representatives of estates can be held personally liable for either applying or distributing estate assets when there are unpaid estate taxes owed in case the Internal Revenue Service is not paid. When estate tax returns are not filed, the final amount of estate taxes…
Reasons Why Estate Planning Should Be Part of Your Retirement Plan
One of the most recurring themes about estate planning as well as retirement strategies is to minimize risk. As a result, if you plan on creating a comprehensive retirement plan, you should make sure to also include an adequate estate plan. While you will hopefully enjoy a long and comfortable…
Estate Planning Advice If You Plan on Relocating
After moving between states, many people are overwhelmed and overlook critical estate planning steps. This can lead to undesirable estate planning results because different states treat issues like marital property and taxes differently. In these situations, it helps to understand some helpful advice about how to revise and update your…
4 Tips on Adding Powers of Appointment to Your Estate Plan
A power of appointment allows a person engaged in estate planning to direct where interest in an estate or trust is passed. Appointments are often classified as either general or limited/special. A general power of appointment gives the holder broad power to transfer a deceased person’s property. For example, if…