How To Contest a Will When you hear about wills being contested, you may initially think of famous families involved in legal battles over the validity of a will. However, there are various reasons why a will may be challenged, and not all of them involve family disputes. Let’s explore some situations where contesting a […]
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Foreign Homes and Estate Plans
Foreign Homes and Estate Plans Don’t overlook foreign assets when planning your estate. If you own real estate outside the U.S., you should address the assets in your estate plan. But watch out for double taxation. There’s that risk if the assets are subject to estate, inheritance or other death taxes in the country where […]
Let Your Home Equity Fund Your Retirement
Strapped for cash? You might be able to liquify some of your home equity to cover expenses by using a home equity conversion mortgage, which is essentially a reverse mortgage backed by the Federal Housing Administration. The organization is federally insured by HUD; the agency guarantees the lender will be repaid. These products, which have […]
Community Property or Separate Property?
Each state has its own set of rules when it comes to marital or community property. Most states operate under the common law system of property ownership, which clearly defines which spouse owns each asset. If you put only your name on the account, deed, title, or registration, then you own that asset regardless of […]
A New Look at SECURE Act 2.0 Issues
The SECURE Act 2.0 has a new provision that speaks to the nature of auto-enrollment for new 401(k) plans. All eligible hires will be required to enroll at a pretax rate of 3% at the minimum. Furthermore, the mandatory enrollment will come with an auto-escalation of 1% annually, but this is only effective until the […]
Clawing Back Assets After Probate
Contesting a will can be an expensive and painful struggle. But suppose the will has already been probated (accepted by the court as valid) and the assets distributed to the beneficiaries? Then a challenge becomes exponentially harder, especially as the assets may have been sold or disposed of. New information might have come to light. […]
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