Multiple marriages frequently bring complexity to estate planning. While some people need a few tries to find true love, just one slip up on a will can cost the heirs of a past marriage the entire estate. This potential for error can be something that many people overlook.
Half Of All Eligible Americans Are Filing For Social Security
According to recent studies, half of all eligible Americans, apparently worried about the future of social security or the current economy, are filing for social security at the earliest they can, namely 62 years of age.
What Happens After You Pass Away?
When you die and if your spouse remarries, will your spouse's new husband or wife and the stepchildren inherit your children's share of the family inheritance? This may be difficult for some people to think about, but it is something that married couples may want to consider. This is especially true in an era where some people are living much longer lives.
When Is Probate Needed?
Probating of the decedent's estate is needed if there are items of property that need to be titled or transferred to his or her heirs or beneficiaries. However, probate proceedings are not needed in cases if the decedent held all of his or her property in the name of the decedent and his or her spouse, then that estate is said to be in joint tenancy.
One And Done: Updating Your Will Is Easy!
The tough thing about most New Year's Resolutions is that they require daily exercise, financial management, dessert denial, or other great effort. On the other hand, the great thing about the Resolution to make a Will is that you only have to do it once every few years and the Resolution is accomplished!