If you actually put your house, cars, bank accounts, investments, etc.
I did not see any mention of a Charitable Gift Annuity. My wife died 2 years ago. When I die the charities get the remainder. Some of my bank accounts list an orphanage as beneficiary. Other banks, in the same state , PA will not list a charity as beneficiary. Are GCA a good idea? What thieves by trade they are. And these need to be addressed in legal documents, too. I have a literary executor I have already named, she agreed. But I still need to put it in writing. I also own artworks that some people have asked for; I need to address those as well. Then there are pets, if they outlive you.
I realize your specialty is money, but then there is the rest of life. I urge you to encourage people to be an organ donor. That is passing along life, far more valuable than any amount of cash, stocks, bonds or saved taxes. Thank you for providing all the advice you did. Again, this is my pension fund. Pensions are not routinely included in trusts. Having to manage the affairs of two parents and one estate so far across state and international borders, here is what I learned. This avoided probate. The loved one had a house, did not expect to return and no one else lives there, so it was sold converted to cash, and partly transfer that into one of those accounts with a beneficiary on it or some other will substitute clause i.
TOD and the rest in a trust. Remember that fine print you do not read when signing up for an online account for a local broker or bank, whose headquarters are located in MA but the fine print says laws of the state of MO apply. In some cases, business may be flagrant about breaking the law in not accepting the POA unless I did such and such. The good news is that business cannot refuse it or require that the principle use one of its POA forms in most states, but they certainly can make it frustrating. I had to the balance the costs of getting a court order to get the business bank to comply versus jumping through their hoops I once had to get legal opinion from a US attorney that the POA was enforceable in another country.
However, in the majority of cases it was really not needed to make care decisions for an individual as I was an immediate family member and no other family member was challenging my decisions. Most medical facilities will work with you if you are an immediate family member and have a POA of course they want to get paid. My mother kept everything on paper, easy to find. My father kept no paper. When my father needed my help lost 30 years of memory it took going through divorce records 10 years old that my mother kept to realize there had to be more assets somewhere.
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A month later after doing some tracing of accounts I found another k. The good news I got him out of the nursing home and he is now back to normal. Had he not drawn up the DPOA, he would have been there a long time. I have some old ks never got a statement in over 15 years, guess what, I went online and checked the box to get paper statements. No one would know where I kept my money without them.
In the last year, I have seen two cases where a husband died suddenly, and had kept all his financial records and transactions on a computer. In one case, the computer was password protected and the spouse had no idea what the password was. Some very expensive computer experts and forensic accountants are going to make a lot of money. My experience settling three estates is that I was thankful that the principles had paper records.
I worry about the current generation that keeps all their records online. But there is no substitute for getting a paper statement in the mail. We signed a huge binder for our revocable living trust, have our will in print as well. This reminds me, I need to go update all my pre-tax retirement account beneficiaries to our trust.
One area of vulnerability for adult children just beginning their life is the absence of an advocate. By this, I mean draw up a Power of Attorney and Medical Directive for each young adult to sign and have their parents be their advocate until as such time they have a spouse who can take that role. HPPA laws can dramatically impede medical decision making in the absence of a medical directive and could make for a nightmare if an adult child should have an accident with coma or head injury.
Estate lawyers can provide many cautionary tales. Can you highlight a specific example to clarify? Things do not have to be this way. Always plan for your reasonable position in his life.
East African Court of Justice
Try to guard against this early by NOT enabling your son; enabling garners resentment. At the same time establish an exceptionally tight family in which you matter, in the hope he will end with someone who has the same values and can see room for you in his adult life. OK, but can you share some specifics? Readers might assume you are a divorcee with an ungrateful child who turned into a deadbeat after you tried to do everything to provide for your spouse and son.
I have actually shared quite a bit about myself previously, although I am not divorced and I have no deadbeat children. You can think about it if you wish. Ah yes! This is a good prompt for me as well.
Right to Speedy Trial by Jury, Witnesses, Counsel
I need to update my will and paperwork. I took care of updating my insurance this year, now comes this step. Too much or too little is damaging. Maybe lots of donations — maybe to family foundations that will pay family members to manage the money. Rather than fretting about how to distribute your wealth to charities and such, the easier and much more relaxed approach is to just not make the money in the first place. If you are in your forties or fifties and already have reached half the death tax exemption then why stress out and risk making your life even shorter?
Council vs. Counsel: What’s the Difference?
Why lose sleep at night in higher-risk higher-return investments? De-risk, invest in safer lower return assets, be part of a slower, more mediocre economy. Let the pitchforks eat a slower growing economy. After all for many of them that is their political dream. Chances are you will be updating any will or trust you have now anyway.
We made a will out when our children were small, to pick guardians, and executors.
Now we are making a new will because our children are adults, and they will become the co-trustees and co-executors. No need for guardians obviously. And honestly, this may not be our last will, as we may wind up in another state and choose to revisit another attorney in the new state. In addition, we have no grandchildren or married children at this point, but may in the future, which might cause us to revise the will again.
Is it just for enjoyment sake? One, being a full-time dad is very tiring and I need a vacation after two years but going back to work. Two, I expect my net worth to decline in a bear market. Three comma I do like the camaraderie. I also still get the social interaction I crave and a pretty steady flow of work. Hey Sam! Great post. Probate is generally a fixed fee that is a percentage of your assets, and the percentage decreases as the size of the estate increases.
Trusts are infinitely more flexible than probate. If you have a surviving spouse and children who need support immediately after your death, a trustee can take care of that seamlessly without having to petition the court for a family allowance. That could take time, which means you might have bills going unpaid in the meantime. Easy peasy. Learned counsel in support of these petitions submitted that there are no reasonable ground that the petitioners have committed any offence as enumerated in subsection i to xii of Section 9 a and b and so also section 10 of National Accountability Ordinance, as the petitioners are neither beneficiary of alleged amount nor received any pecuniary advantage nor misused their authority for the preparation of pension cases.
Environmental Case Law Index | African Legal Information Institute
He submitted that the rule of benefit of doubt which is described as a golden rule is essential rule of prudence which cannot be ignored while dispensing justice in accordance with law. He, therefore, prays that the petition may be allowed and the petitioners may be released on bail. Nasir Feroz appearing in C. D of , Mr.
D of and Mr. D of have substantially adopted the arguments of learned senior counsel Mr. A Kazi.