October 15, 2021 •
Estate Planning Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Read MoreOctober 14, 2021 •
Estate Planning Do my husband’s minor children from a prior marriage have any rights to any marital assets acquired during our marriage in the event he dies before me?
Read MoreOctober 12, 2021 •
Estate Planning If you’re planning an inheritance, be careful about leaving these assets to a loved one. They may create more trouble than they’re worth.
Read MoreOctober 6, 2021 •
Estate Planning It can be easy to overlook, but an estate plan is essential for nearly everyone, whether you have a lot of money or just a little. An estate plan tells your heirs and the courts how to divide up your assets. However, it also helps protect your loved ones from unnecessary hassle and expense – as well as potentially months, even years, tied up in the court system settling your estate.
Read MoreSeptember 28, 2021 •
Estate Planning A pot trust is a type of trust that lists children as beneficiaries, with the trustee using his or her discretion as to how trust assets should be spent. If you have minor children, you might consider setting up a pot trust to meet their financial needs, if something should happen to you. This type of trust allows you to create a single pool of assets to be used for the benefit of multiple children.
Read MoreSeptember 9, 2021 •
Estate Planning I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?
Read MoreSeptember 9, 2021 •
Estate Planning Kelly Clarkson had reason to celebrate on Wednesday after learning that a judge has upheld the prenuptial agreement in her bitter divorce battle with ex-husband Brandon Blackstock.
Read MoreSeptember 1, 2021 •
Estate Planning A trust is a legal vehicle that allows a third party, a trustee, to hold and direct assets in a trust fund on behalf of a beneficiary. A trust greatly expands your options when it comes to managing your assets, whether you're trying to shield your wealth from taxes or pass it on to your children.
Read MoreAugust 31, 2021 •
Estate Planning In her role as Philadelphia Register of Wills, Tracey Gordon has often heard people say they don’t want to discuss wills and estate planning with their relatives because they’ll think they’re out to get them, like it’s some elaborate and sinister plot torn straight from a Hollywood movie.
Read MoreAugust 24, 2021 •
Estate Planning A second marriage can be a balm for the heartache of losing a spouse, be it through death or divorce. Nevertheless, if there are children or other heirs involved, you should consider carefully what will happen with your money and possessions when you pass on.
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