Why wouldn’t I be included, for any inheritance or possessions my Step-Dad had when he passed away on Feb 18,2020?
My Step-Dad passed away, and he was still living with my Mom . They lived together for 40+ years. About their 35th year, the did a fast marriage thru a Magistrate judge, and afterwards, they divorced, mom and Dad both told me it was because of how much the Ins. Premium went up in cost, […]
I own two rental properties and wondered if there would be any advantage to putting my adult daughter on the deed with me?
Asked in Massachusetts Does the fact that my daughter is on the deed make it easier for her to sell the property when I die? ANSWER BY MARGARET CROSS-BELIVEAU: Yes, adding a child onto a deed will avoid having the asset go through probate. However, it does comes with risks. What if your daughter predeceases […]
Including Life Settlements in Your Estate Plan
If you have a life insurance policy you no longer need, you may be able to sell it for significantly more than its cash surrender value (CSV). A life settlement is the sale of a life insurance policy to a third party. The sale can provide the policy holder with more than the CSV and […]
Hired a lawyer to add to the deed of the house, lawyer got us a letters of authority for personal representative
Asked from Boston, Massachusetts: Dad died in 2020, mom was not on the mortgage or deed. Dad did not have a will, or look over this information before passing. We went to a lawyer asking to be added to the deed, so my mom could sell the house. (She’s been paying the mortgage for almost […]
Will my deceased sister’s ex-husband be able to claim her inheritance ( sale of my mom‘s house) from mother ?
ADDITIONAL INFORMATION: My mom passed away with no will and the deed to her house in Massachusetts should be split three ways between my brother my sister and I but my sister passed away in 2016 her husband remarried in 2017 they have one child who is 40. Who will get her portion her ex-husband […]
RMDs Now Required For Death Beneficiaries
If you inherited an IRA after January 1, 2020, you might be in for a surprise. Under proposed rules issued in February 2022, you might have to start withdrawing that money now. The shift comes as a shock for many. When the Secure Act passed in 2019, it required most death beneficiaries to fully withdraw […]
House Passes Secure Act 2.0
The House of Representatives overwhelmingly approved a bill designed to improve retirement savings. The Securing Strong Retirement Act of 2022, also called Secure Act 2.0, was approved with a bipartisan vote of 414-5. Next, the legislation heads to the Senate. However, lawmakers there have a retirement reform package of their own. Analysts say there’s about […]
How To Protect Your Child’s Inheritance From Their Spouse
One concern we hear in the estate planning process is how to protect an adult child’s inheritance from their spouse. Sometimes this stems from a place of animosity or concern over a child’s problem partner. Some people are concerned about divorce-proofing the assets they’ll leave behind for their kids. Still others simply believe that inheritances […]
Making It Easier For Loved Ones To Settle Your Estate
For many people, estate planning is about more than transferring assets after you’re gone. It can be about making life easier on your survivors and smoothing the way for your loved ones at what is sure to be a difficult time. If that’s one of the “gifts” you’d like to leave behind, consider taking the […]
Using Intrafamily Loans In Your Estate Plan
Interest rates are still at historic lows, despite an expected Federal Reserve rate hike. At times like these, families have a unique opportunity to transfer wealth via an intrafamily loan. An intrafamily loan is a way for family members to loan money to each other at a special rate. They might be used to help […]
