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Posts tagged "Estate Planning"

Women live longer than men: Get your estate plan in order

While both men and women need to do proper estate planning, it is especially important for women because they tend to live longer than men. This means that the odds are higher that the last surviving spouse in an opposite-sex marriage is going to be the woman. Even if she simply gets her husband's assets when he passes away, it is then up to her to pass those on to the rest of the family.

What's a joint tenancy for real estate?

Sometimes, you can use a joint tenancy to bypass the need for real estate property to go through the probate process after you've passed away. You might buy a piece of property together with another person -- like your spouse -- and set up the ownership as joint tenants. Or, you might simply sign part ownership of your home to a joint tenant as a part of your estate planning strategy.

What's special about a Totten trust?

There are so many varieties of trusts that it's difficult to keep track of them all. These trusts can also drafted in a number of ways, which makes it tricky to know exactly what to do for an inexperienced trust planning attorney, and especially for a layperson who doesn't have any legal training. A Totten trust, for example, is a type of legal document that many people have never heard of.

Don't forget your estate plan when you divorce

If you're working to get your divorce finalized before the beginning of next year when the new tax changes take effect, you're probably consumed with that process. However, don't forget that as a divorced person, you'll likely need to make some significant changes to your estate plan -- if you have one.


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