Estate planning is an important, if unpleasant, part of life. It is suggested that people look at their plans at least once a year and update them when there are significant changes in life; such as divorce, the death of a loved one, or the birth of a child. The suggestion also works if there has been a fight within a family and the one leaving the estate would prefer to choose a new heir.
Before making a decision on a beneficiary, it's very important to check your state laws. Some states have different rules on who you can name as a beneficiary.
When the 7520 rate is low—as it has been for 15 years—opportunities for good planning abound. However, what about when the rate is high? Few estate planners have needed to ask themselves that question until very recently.
After the 2022 midterms, the estate of late songwriter Tom Petty tweeted a statement that condemned the use of Petty's 1989 hit "I Won't Back Down" in one failed gubernatorial campaign.
The estate of late actress Anne Heche is being sued by Lynne Mishele, the woman who was living in the home, which was destroyed after Heche's vehicle crashed into the house and erupted into flames.
One of the most common questions people ask about estate planning is whether they should be using a revocable trust instead of a last will and testament.
