Are you thinking of marrying again in your golden years, long after your children are grown?
Estate planning isn't hard, especially when you have the right professional help, but it is a detail-oriented task that requires your full attention and a lot of thought. That's not usually what keeps people from creating a will or making other estate plans, though. It's often the fear of talking about end-of-life or a feeling that you don't need a will that keeps you from such a discussion. Even if you finally buckle down to create a will, your spouse might not be on board with the process.
One estate consideration that individuals might face during second or later marriages is that a divorce order might exist that impacts how probate matters will be decided. How you approach estate planning in this type of situation depends on a variety of factors, and you do want to be sure both parties in the new marriage are aware of previous divorce decrees that could come into play.
Trusts are a legal vehicle that can hold assets. When you create a trust and place assets into it, you don't own those assets anymore -- they are actually owned by the trust. People don't own a trust in the traditional sense; the person who benefits from the assets held in a trust is called the beneficiary. The assets are provided to the beneficiary according to how the trust was created.
If you've been following the Prince estate case at all, you know that many possible heirs came forward to seek their share of the estate. For months, the estate and courts have been mired in DNA tests and other claims from potential heirs, but the court has turned away far more heirs than it has confirmed. The latest group of potential heirs tried to stake a claim based on one man's relationship with Prince's father.
In the immediate aftermath of a major loss, the last things you probably want to consider are probate and legal matters. That's one reason for working with a trustworthy legal professional who can guide you through legal matters and help handle some of the more tedious details for you. While basic legalities are being handled, you can take some steps toward dealing with loss and grief.
Many people who are married assume that they will create a single will between them. This isn't always the best course of action, and working with your estate planning lawyer can help you understand what steps are the best given your situation in Omaha.
Numerous types of estate property can spark long trails of paperwork and interesting stories, and art that has changed hands over the years often leads to this type of tale. Currently, one group of American heirs is filing a lawsuit, seeking the return of a painting that is housed in a museum in another country.
You're setting up your estate plan, and you aren't sure exactly what the best course of action is for dividing your assets between your children. One key thing to consider is exactly what your children have learned over the years, as they've grown from childhood into adulthood.
Several months ago, we wrote about how Marvin Gaye's heirs filed a lawsuit against Pharrell Williams and Robin Thicke for allegedly copying certain elements of one of Gaye's iconic songs. That suit netted the heirs a court-ordered award of over $3 million. The heirs have since filed a new lawsuit against Ed Sheeran.