Archive for May 2011
Things You Need to Know about Making a Will
For most people creating a will doesn’t need to be a complicated process. Here are a few basics steps that must be taken when you’re creating a will with your estate planning lawyer. The first thing to think about is in relation to possessions. People typically remember to include large possessions like homes and bank accounts during…
Read MoreAre My Life Insurance Proceeds Taxable?
In most instances, life insurance proceeds are income tax free to the beneficiary but are taxable to your estate if you owned the policy on your life or retained any “incidents of ownership” such as the right to change the beneficiaries or borrow against the policy. If this is the case, the life insurance proceeds…
Read MoreThe Will of a Professional: Have an Estate Planning Attorney Draw up Your Will
Estate planning is one of the things that everyone knows they should do, but many people continue to put off until it is too late. Without a will, you forfeit the right to specify how your assets are passed down. In such cases, the state decides how your property will be distributed. Many individuals think…
Read More