Before deciding whether or not to launch a legal challenge to a will or trust, it is important that you see an estate attorney to learn about no contest clause laws in your state.
Many wills and trusts today have what is known as a “no contest” clause. Including such a clause is standard procedure to help fend off any legal challenges to the contents of a will or trust.
What these clauses say is that anyone who receives an inheritance from a will or who is a beneficiary of a trust receives nothing, if they challenge the validity of...
In the U.K. more and more people are having to pay the inheritance tax leading to an increase in people insuring against that possibility. Americans concerned about estate or inheritance taxes can do the same.
People seem to complain about estate and inheritance taxes more than any other form of taxation, especially if they are affected by the tax. There is something about taxing a person’s assets after they pass away that rubs many people the wrong way.
This is true in the U.K. as well as the U.S.
In the U.K., the exemption limit for the inheritance tax is...
The best way to prevent your family from fighting over your estate, is to let them know what to expect from your estate plan. The conversation does not need to be exclusively about money.
Many different things can cause families to fight over a deceased relative’s estate. Sometimes, families are going to fight no matter what and there is nothing that can be done to avoid it.
This is one reason why you should enlist the expertise of an estate planning attorney. She can make your estate plan as solid as possible, so there are fewer legal grounds for your...
Glenn Frey of the Eagles passed away recently. Details of his estate have been made public.
The details of Glenn Frey’s will are not that interesting on the surface. Nevertheless, the will does contain an interesting provision that illustrates how many wealthy people choose to handle their estate plans.
Frey left behind a will that leaves his entire estate to his wife and names her as the executor of the will.
Two co-executors were named, in case his wife was unable to serve.
There is not much that is unusual there.
The details of the will were reported by TMZ...
Few states have inheritance taxes any more, but Iowa still does. A recent court case there illustrates that the Iowa law has a strange provision.
A handful of states have an inheritance tax either in addition to or instead of a state estate tax.
Inheritance taxes are similar to estate taxes. With an estate tax, the estate itself is taxed before distribution to people. With an inheritance tax it is the tax is assessed on the people inheriting the estate.
Iowa is one of the states with an inheritance tax. However, it has an exemption for the tax when it...