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What You Need to Know about Probate
A will is a legal document that spells out the distribution of your assets and how your children will be cared for at your death. Probate is a process used to prove a decedent’s will is valid and to supervise the handling of their estate.
Taking a dietary supplement or two (or five) every day isn’t exactly uncommon. About 70 percent of adults age 60 and older reported taking at least one supplement in the last month — be it a multivitamin or a chocolate-flavored calcium chew. About 30 percent took at least four, research shows.
I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?
While Britney Spears says her own conservatorship is abusive, the legal device has long been criticized for facilitating elder abuse and undercutting disability rights.
Americans are getting older. (I feel it — don’t you?) In fact, the Population Reference Bureau estimates that the number of Americans aged 65 and older will nearly double from 52 million in 2018 to 95 million by 2060.
Charlie Daniels played his last show before the pandemic on March 13, 2020, at the Mark C. Smith Concert Hall in Huntsville, Ala. Hunkered down at home in Mt. Juliet, Tenn., he spent the following months telling anyone who would listen — his son, journalists — that he couldn’t wait to get back on the road, where he still played up to 140 dates a year, an ambitious schedule for any artist, much less an 83-year-old.
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
A trust is a legal vehicle that allows a third party, a trustee, to hold and direct assets in a trust fund on behalf of a beneficiary. A trust greatly expands your options when it comes to managing your assets, whether you’re trying to shield your wealth from taxes or pass it on to your children.
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.
Talking about and thinking about death can be very uncomfortable. But avoiding the issue altogether and leaving yourself-or more importantly, your family members-unprepared for such a reality is even worse.
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