Divorce is a stressful situation for everyone involved. Emotions run high, and many times the main emotion being experienced is anger. This can lead to divorce negotiations becoming extensive and expensive. When the disagreements become so intense that the divorce cannot move forward, both sides of the party lose. Therefore, anyone going through a divorce may want to seek the …
Do you have an individual retirement account or other type of retirement account that you plan to leave to your loved ones? If so, proceed with caution. Inherited retirement accounts do not have asset protection when they pass to your loved ones, meaning creditors can seize the money in the accounts to satisfy any claims against your beneficiaries. How Can …
When a couple decides to separate, it brings up painful, and often conflicting, emotions. This isn’t shocking because divorce tends to be an acrimonious process. Unfortunately, going to court to settle the divorce frequently makes the situation worse. With court hearings, an in-depth discovery process, and perhaps even an expensive and risky trial, letting a judge preside over your divorce …
I loved this conversation with Beth Rumley on this episode of Ag Law Today speaking about all things slaughter and processing laws. The National Agriculture Law Center is such a wealth of information. Beth is a brilliant writer and speaker. The agriculture community is lucky to have her. Share this Article
Myth #1: If I need help paying my bills, I can just add my child to my bank account. Nothing bad will happen. False. When you add a child or anyone else to your bank account, you are making that person a co-owner of the account. Your child can pay bills using the money in your bank account, but your …
Comprehensive estate and financial plans are not just for the wealthy. Anyone who cares for a person or cause and who wants to provide for the person or cause after they die can benefit from such plans. Along with comprehensive estate and financial plans comes a team to help you create, manage, and support those plans. This team includes your …
Divorce can be a very complicated proceeding. Both parties can be very emotional about the entire process, and this can slow things down. When both sides are furious, the process can drag on for months because agreements cannot be made on the divorce’s important issues. Sometimes it takes a third party to get things moving and help the divorce move …
How your accounts are owned makes a big difference in estate planning. The main objective is usually to ensure that no accounts and property are in only your name when you die. Otherwise, they will be subject to probate, a costly, public, and time-consuming court process that many people prefer to avoid. Therefore, it is important that you review your …
Myth 1: My estate plan is just for me, so I do not need to tell anyone anything about it. False. While how much you divulge is up to you, being open and honest with your loved ones can help alleviate misunderstandings that could arise after your passing. Sharing this information is especially helpful in three instances: You have chosen …
According to a study conducted by Caring.com, the percentage of people aged fifty-five and older who have created a will has fallen from 60 percent to 44 percent since 2019.[1] Although creating or updating your estate planning may seem like a daunting task, a proper estate plan can help address the concerns you may face as a senior citizen. We …
Your retirement account provides asset protection during your lifetime, but as soon as you pass that account to a loved one, that protection evaporates. When your spouse, child, or other loved one inherits your retirement account, creditors have the power to seize it and use the funds to satisfy their claims. This means one lawsuit and POOF!—your life-long, hard-earned savings …