Although, most parents choose to treat their children equally when it comes to inheriting property or money, sometimes parents intentionally choose to not leave anything to a child and the reasons for doing so may vary. One reason could be that a child who is more financially successful than the
If parents wait too long to begin instilling family values, it can be especially challenging to successfully address and legally formalize inheritance of family values and assets. Undoubtedly the best time to teach and empower your children as eventual inheritors of your family legacy is during childhood, then continuing throughout
We hear this question all the time: “Can’t I just grab a will off the internet, do a transfer-on-death deed for my land, put my kids on my bank account, and be done with my estate plan?†It’s just not a good idea. For the plan to work as you
Probate is a legal term used to describe the legal process for authenticating a deceased person’s will, reviewing their assets, paying their outstanding debts and taxes, and distributing what remains to their inheritors. After an asset-holder dies, the court will appoint a valid will’s executor to administer the probate process.
As Americans prepare for a Biden Harris Administration, noting the President-elect’s tax plan is crucial for higher-income households to understand and likely make adjustments to their financial and legacy planning. Generally speaking, the sweeping changes to the tax code will aim to levy higher taxes on corporations and high-income households.
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