The automotive world lost an iconic figure when Carroll Shelby passed away on May 10 at the age of 89. Shelby rose to fame as a very successful race car driver and then went on to become a designer of performance automobiles. He is well known for the Shelby Mustang, but before he started working with Mustangs he made his mark with the legendary AC Cobra. Shortly after his passing we reported here about the dispute that was taking place between his wife Cleo and his three children that was … [Read more...] about Matter of Shelby Final Arrangements Settled
Create a Clear Cut Path for Executor
Estate planning is one thing, but estate administration is another. Yes, you have to ask yourself how you want your assets distributed after you pass away. Once you know what you want to achieve, the next step is to sit down with a good inheritance planning lawyer to state your wishes in writing in a legally binding manner. However, there are actions that must be taken after you pass away. If you use a last Will as your primary vehicle of asset transfer, you must select an executor to actually … [Read more...] about Create a Clear Cut Path for Executor
Can You Earn Income While Drawing Social Security Benefit?
Because so many people nearing the typical retirement age are unsure about their financial stability, retirement planning lawyers will often point out the fact that you can benefit by working longer. If you are hardwired to the idea of retiring at a particular age, you may be forcing yourself to accept a reduced quality of living that could be avoided if you simply push that date back. People sometimes wonder if it is possible to continue working while you are receiving a Social Security … [Read more...] about Can You Earn Income While Drawing Social Security Benefit?
Nursing Home Expenses: Are You Fully Informed?
If you knew you were likely to incur a large expense in the future, you would start making preparations to be able to handle this challenge as soon as possible. With this in mind, you would do well to understand the fact that most senior citizens are going to need long-term care at some point in time. There are those who go forward with an underlying sense of security because they are under the impression that Medicare will provide the safety net that they need during their senior years. While … [Read more...] about Nursing Home Expenses: Are You Fully Informed?
Prevent Intestacy Through Proper Advance Planning
What would happen to your resources if you were to pass away without executing a last Will or a trust? The answer is that the situation would wind up being sorted out by the probate court. Ultimately, the assets that you leave behind would be distributed to your closest relative or relatives in accordance with intestacy laws of succession in the state of California. This is something that you want to steer clear of because the probate process will take a lot of time to run its course. In … [Read more...] about Prevent Intestacy Through Proper Advance Planning
Did Hemsley Have a Brother? Actor’s Estate Being Challenged
There is some celebrity estate planning news circulating at the present time that we would like to highlight here. It involves the last Will of the recently deceased actor Sherman Hemsley. Hemsley is best known for his role as George Jefferson, the well-to-do self-made man who strongly asserted himself at every opportunity. In fact, the personal proclivities of the actor Hemsley bore no resemblance to the boisterous character that he popularized. Hemsley was reportedly a private man who did … [Read more...] about Did Hemsley Have a Brother? Actor’s Estate Being Challenged
Avoid Tax Liens Through Careful Retirement Planning
People who are living on a fixed income can have a difficult time reacting to ever rising expenses. This is something to take into consideration when you are engaged in your retirement planning efforts. Planning ahead for your retirement years involves making accurate projections regarding your future debits and credits. With this in mind, you should certainly evaluate your anticipated property tax responsibilities. There is a certain confluence that can be troublesome when you have achieved … [Read more...] about Avoid Tax Liens Through Careful Retirement Planning
Your Property May Expose You to Estate Tax in 2013
Estate planning attorneys are always going to remind clients about the fact that your planning efforts should be seen as important and ongoing. There is a great deal in the balance when you consider the potential ravages of the federal estate tax so you want to be optimally prepared at all times. With the above in mind, 2012 is a very significant year. Throughout the rest of this year the estate tax exclusion is $5.12 million, but it is going down to just $1 million in 2013. The maximum rate … [Read more...] about Your Property May Expose You to Estate Tax in 2013
A Surprising Fact About Last Wills
You might think that the disposition of your resources would be handled in a private manner after you pass away. In fact, if you choose to use a Last Will as your primary vehicle of asset transfer, the general public would have access to all the details. This is because your estate must be probated when you use a Last Will. Probate exists partially because of the fact that there could be interested parties that have a rightful claim against the estate. Creditors, claimants, and/or individuals … [Read more...] about A Surprising Fact About Last Wills
Retirement Planning can Involve Fruitful Use of Free Time
Retirement planning in action involves taking steps to accumulate the financial resources that you need to actually put your working years behind you. This can take some self-discipline as you work within a cogent framework over an extended period of time in an effort to reach your goals. Not everyone is particularly savvy when it comes to financial planning, but this should not lead to procrastination and inaction. You can simply pick up the phone to arrange for a consultation with an … [Read more...] about Retirement Planning can Involve Fruitful Use of Free Time
