News & Analysis as of September 24, 2024

Spouses

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

[Webinar] My Will and My Divorce: Protecting Your Assets From Your Ex - September 26th, 12:00 pm - 1:00 pm ET

Cohen Seglias Pallas Greenhall & Furman PC on 9/7/2023

During the divorce process, one often overlooked area is updating your estate plan. Divorce can impact beneficiary designations on life insurance policies, retirement accounts, and other assets and can also have tax...more

Estate Planning Pitfall: You Haven’t Coordinated Beneficiary Designations With Your Will

Adler Pollock & Sheehan P.C. on 5/3/2023

Perhaps you drafted your will years ago and it references many of your existing assets, including retirement plan accounts and life insurance policies. But you also have paperwork on file with the applicable financial...more

Special Considerations For Divorces Involving Middle-Aged And Older Americans: Part 2

Kohrman Jackson & Krantz LLP on 4/7/2022

PART 2: DIVISION OF ASSETS AND DEBTS, RETIREMENT BENEFITS, AND ESTATE PLANNING MATTERS - As discussed in Part One of our two-part series detailing the social phenomenon know as “grey” divorce, a number of recent studies,...more

Medicaid Protections for the Healthy Spouse

Chambliss, Bahner & Stophel, P.C. on 2/14/2020

Medicaid law provides special protections for the spouses of Medicaid applicants to make sure the spouses have the minimum support needed to continue to live in the community while their husband or wife is receiving long-term...more

Why Should I Get My Estate Planning Done Now?

Lewitt Hackman on 1/30/2020

Last Sunday I learned that my mother’s dear friend who is very active, hikes daily, gardens daily, does senior yoga weekly, eats a healthy diet, and has many volunteer and social commitments that keep her happy, went on a...more

Getting Started: Estate Planning for Young Families

Ruder Ware on 1/17/2020

For many people, the first time they start thinking about an estate plan is when they start to have family members that depend on them financially – typically, a spouse or a child. Let’s take, for example, a young married...more

My spouse is on Medicaid, now what?

Ruder Ware on 11/14/2019

It is common for a client whose spouse is receiving Medicaid to lack adequate estate planning to protect those Medicaid benefits in the event the client dies before their spouse. Yet, after all of the time and energy spent to...more

Updating Your Estate Plan in the Event of Divorce

Burns & Levinson LLP on 11/14/2019

It’s advisable to review and update your estate plan with any change in personal circumstances, financial circumstances, changes in the law, or just the passage of an extended time. But if you’re in the midst of a divorce, or...more

Is My IRA Safe From the Nursing Home?

Ruder Ware on 6/13/2019

After working and saving, clients are concerned that unexpected costs will become unplanned for drains on their Retirement Accounts (e.g, 401(k), IRA, Roth IRA, 403(b), etc.). As the need to pay for nursing home care nears,...more

Estate Planning After Divorce

Burns & Levinson LLP on 4/17/2019

Divorce attorneys saw a wave of divorces last year due to the changes in the tax laws that took effect on January 1, 2019. If you were one of the masses whose divorce was finalized in 2018, now is the time to revise your...more

Insight on Estate Planning - April/May 2019: A second walk down the aisle can complicate estate planning

Adler Pollock & Sheehan P.C. on 4/4/2019

An estate planning rule of thumb is to review (and, if necessary, revise) one’s estate plan in light of major life events. Such events include a marriage, birth of a child and a divorce. A second marriage also calls for an...more

Does Your Spouse Know?

Saul Ewing LLP on 3/11/2019

In most households, there is one spouse who handles financial matters- paying bills, filing tax returns, planning retirement income. While division of labor might be great, there could be problems if the "non-financial"...more

Window Closing for Couples to Use 'Claim Now, Claim More Later' Social Security Strategy

Chambliss, Bahner & Stophel, P.C. on 2/8/2019

Spouses who are turning full retirement age this year are the last group who can choose whether to take spousal benefits or to take benefits on their own record. The strategy, used by some couples to maximize their benefits,...more

Does Your Spouse Know?

Saul Ewing LLP on 5/2/2018

A number of years ago, I spoke at a seminar organized by some clients, called "Sign here, my dear". The point of the seminar was that spouses, in most case wives, know very little about family finances and are often just...more

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