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When you're in the midst of a divorce, you're probably not thinking about estate planning or your will. But if you're divorcing, you should think about the impact a divorce can have on an estate plan.
Community property issues often arise in divorce proceedings and disputes after the death of one spouse. These disputes can often be avoided by proper estate planning during the spouses' joint lifetime. This may or may not involve probate proceedings. Property acquired before marriage is separate and belongs to the spouse who acquired it.
A trust may be used as an estate planning tool to direct the distribution of assets after the person who creates the trust passes away or becomes incapacitated. Trusts may be used to provide for the distribution of funds for the benefit of minor children or developmentally disabled children.
The benefit of a trust is it can address a wider array of estate planning concerns. If you make an amendment to the trust, it impacts all assets held within that trust.
Planning your estate might not be the most enjoyable thing, but it's a critical step in your life. Having a will or trust in place when you die ensures your estate will pass along to your ...
Normally in forced heirship, the deceased's estate is in-gathered and wound up without discharging liabilities, which means accepting inheritance includes accepting the liabilities attached to inherited property. The forced estate is divided into shares which include the share of issue (legitime or child's share) and the spousal share. This ...
Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by financial services company HSBC. “No matter how ...
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