Blended families have become the new norm as the baby boomer generation leads the nation with record high numbers of divorce and remarriage. The modern family dynamic often includes remarried parents, creating a blended family with their children and step children. When considering estate planning options, the question of who will inherit is significant and requires a thoughtful answer.
Often, people die with a variety of financial obligations that need to be sorted out and addressed to settle their affairs. The executor of the estate normally pays any outstanding bills with a deceased person’s available assets.
Writing a will is a wonderful thing to do. It will save your heirs a ton of heartache and the confusion of having the state decide who gets what.
When you are running a business, it seems that there are not enough hours in the day to accomplish everything that you need to do. If you're accused of a partnership agreement breach you may feel confused, threatened and angry all at the same time.
If you already have an estate plan, you may feel that you have all of your financial and legal arrangements in place. This may be true, except when there are changes in your life. Here are three types of life changes that make it necessary to revise your estate plan.
You have worked hard to establish your farm and to build up the success. As the success continues, you have to start making plans for your farm's future. One of the things that you should do is to create a succession plan.
Sometimes, lawsuits go to the courts when companies already know about problems they caused. Reducing or repairing damage caused inadvertently benefits the company and community, so no lawsuit is necessary. When that's the case, the company in question can ask to dismiss any lawsuits against it, since it has already begun to take corrective actions.