Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
Bob Ross definitely didn’t make a happy little accident when handling his estate and his likeness after he died in 1995. He made a big mistake.
In fact, many couples with no children mistakenly believe that they are less likely to need a last will and testament than couples with children.
My daughter is on Medicaid. If I give her my home in my will, what will happen to her benefits?
An appellate judge dubs probate court ‘the Unhappiest Place on Earth,’ as Disney heir Bradford Lund has lost an appeal stemming from his fight to claim his fortune.
Trust funds are not just for the ultra-rich. These sophisticated estate-planning tools can make just as much sense for middle-class Americans who own a home and have a net worth of at least $100,000.
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
If you have a mortgage, you might worry about what that means for your heirs and loved ones. Will they be able to keep your home, and who will be responsible for paying for it?
We have seen some step siblings able to all get along fine but they seem to be the exception. More likely, one sibling feels divided loyalty to the birth parent, not the step-parent.
President Biden’s proposal to eliminate the step-up for calculating inheritance taxes targets a tactic that has long been a wealth-preservation tool. What are some of the ramifications of the proposal and what, after political wrangling, could be the tax implications for large inherited assets?