When you welcome your first child, your life forever changes. For the first few months, you are busy caring for a newborn—figuring out how to soothe your child, feed them and survive some sleepless nights. While many parents do lots of research on the best car seat,...
Trust administrator proposes plan to test heirs in Prince estate
Amid continuing rumors that Prince actually left behind a will — and that the will might be located in another country — the estate is moving forward with administrative processes. The administrator of the trust currently holding the Prince estate has...Your own values and your long-term care plan
Everyone has different values, and experts note that it’s incredibly important to take your own personal beliefs and values into account when setting up a medical long-term care plan in New York. This could include your moral and ethical beliefs, your spiritual...Be careful with your digital will
More and more, experts are suggesting that people create digital wills for the division of online assets. Much of this has to do with granting access to your accounts and ensuring that people can get into them after you pass away. For example, perhaps you have an...Vince McMahon sells World Wrestling stock for estate planning
Ex-pro wrestler and World Wrestling Entertainment CEO and Chairman Vince McMahon will sell 2,191,894 shares of his company’s stock valued at nearly $40 million. The shares he plans to sell represent 6 percent of the outstanding WWE stock. WWE announced that the...Understanding fiduciaries and the important role they fill
Some of the terminology surrounding estate planning can be confusing. However, most of the terms you hear can be explained quite easily. Fiduciary is one such term and it simply means a person who has the responsibility of administering an estate for someone who has...How do you choose an estate executor?
In the past few weeks, we’ve talked about the importance of a will and how to avoid some common estate-planning mistakes. We’ve also covered the fiduciary role, so you know it’s important to choose the right person when you are picking people to...Important long-term care insurance questions
So you’re thinking about getting long-term care insurance, trying to protect yourself from high costs as you grow older. This could be a very wise move, but it’s important not to act too quickly. Take your time and ask all of the right questions first....The most common estate planning mistakes
The recent death of pop-star Prince revealed that the musician and renowned philanthropist passed away without creating a will. Court papers filed by the musician’s sister revealed the absence of a will shortly after his death. It is surprising that such a...Do you pay taxes on foreign inheritances?
It’s very important to know how inheritance taxes work, but you should know that these generally just apply to U.S. citizens and others who live in the United States. If the person who is passing on the assets is not a U.S. citizen and is not living in the...
