Most American strive to earn a decent-sized paycheck to support themselves and their families when they go to work. Stay-at-home parents, however, work to provide valuable nonfinancial contributions to their families everyday. They make sure that the home runs smoothly and that their family members have what they need to be successful...
Category: Children
If I Give My Home to My Child in My Will, Can They Take My Home While I Am Still Alive?
The short answer to this question is no. Naming your child as the recipient of your home in your will does not give them any right to your home while you are still living. However, understanding why that is the correct answer requires a little more explanation.
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Does a Domestic Partner Have the Same Rights as a Spouse When It Comes to Estate Planning?
The short answer to whether couples in a domestic partnership have the same rights as married couples when it comes to estate planning is probably not. To a large extent, the state in which you live, and maybe even the city or county, determines domestic partners’ rights.
What Is...
Common Trusts: Parenting beyond the Grave
Parents strive to make their children feel equally valued as reflected in the fact that, when setting up an estate plan, parents typically divide their accounts and property equally among their children. But while parents strive to treat their children the same, they simultaneously acknowledge that children have different needs at different times....
What You Should Know about Life Insurance
Who can benefit from life insurance?
Many different types of people can benefit from having adequate life insurance coverage. Here are a few of the most common groups:
Business owners. If you own a business and want to leave it to some but not all of your children, a life insurance policy...What Is a Separate Revocable Living Trust?
When a couple engages in foundational estate planning, one of the first questions addressed by estate planning attorneys is whether it makes sense for the couple to use a revocable living trust (RLT) as a part of their plan. If using an RLT makes sense, an important follow-up question to married couples should...
To Have, but Not to Hold? Common Law Marriage and Estate Planning
Marriage as a legal institution has taken a variety of forms throughout history. As society evolves, how we identify marriage in our society also changes. In some states, a couple may be deemed married without having participated in judicial or religious ceremonies. These marriages are called common law marriages. Their existence creates some...
What Are the Rights of a Child Born Outside of Marriage?
Despite the prevailing view, children born to unmarried parents are commonplace. Historically, children in this category were treated poorly by both society and the law. In many cases, they had no right to inherit from either parent. This legal scheme eventually changed and provided means for these children to inherit from their mothers,...
CELEBRATE SINGLE PARENT DAY: TAKE STEPS TO PROVIDE FOR YOUR KIDS’ FUTURE
In 1984, Congress issued a resolution, signed by President Reagan, establishing March 21st as National Single Parent Day: a day devoted to recognizing the dedication of single parents, who make self-sacrificial efforts to care for their children’s needs, and encouraging family members, friends, and communities to help provide an optimal environment...
IMPORTANT CONSIDERATIONS FOR BENEFICIARY DESIGNATIONS OF LIFE INSURANCE POLICIES
Life insurance is often one of the most important parts of an estate plan. People usually purchase life insurance to prevent their spouse, children, or other dependents from suffering financial hardship if they die unexpectedly.
You may think that all you need to...
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You may think that all you need to...