If one forgets to change a beneficiary after divorce, can it be amended after his death for good cause?
- David Greene
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Unfortunately beneficiary designations cannot be amended after the death of the policy or account holder, even if it is clear he did not intend for the listed beneficiary to receive the benefits. The Supreme Court has heard several similar cases…
Is a trust only for the very rich?
- David Greene
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A good trust is definitely not only for the very rich. People create trusts for different reasons. The three primary ones are (1) avoidance of probate, (2) asset protection from creditors and (3) the ability to control your assets and…
How do you transfer a piece of property after the probate estate of the owner is closed?
- David Greene
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The only way to transfer real property owned by a deceased person is to go through probate and obtain a Deed of Distribution. If the estate has already been closed, you must file a Petition to reopen the Estate based…
Some Thoughts on the Fourth
- David Greene
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Did you have a Grand Fourth of July? I hope you did and I hope you not only celebrated our independence but also remembered all those who have fought and died for our country and those who today are in…
Learn about important tax considerations following a spouse’s death.
- David Greene
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There are four important tax considerations one needs to consider following the death of a spouse. First, if you haven’t already filed your income tax return, you can still file a joint tax return for the year in which the…
What are the most important advantages to having a Revocable Trust?
- David Greene
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The most often stated advantage to havihng a Revocable Trust is that it will help the family of the deceased avoid probate However, there are certainly other advantages as well. First, a revocable trust can help insure passing of assets…
What’s the difference in a Health Care POA and Living Will?
- David Greene
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Although the Living Will and Health Care Power of Attorney are similar in many ways, they are also distinctly different. I like to think of the Living Will (also known as a Declaration of a Desire for a Natural Death)…
Is a Personal Representative ever liable for the delinquent taxes of the deceased?
- David Greene
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If the deceased owes delinquent taxes at death, the IRS must file a claim for taxes owed by that decedent just as any other creditor must. They can collect out of the estate, but not from the Personal Representative’s personal…
What are the differences in a will and Durable Power of Attorney?
- David Greene
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Each individual, even husbands and wives, needs to make a will in order to pass his/her assets after death. A Durable Power of Attorney, though, simply gives someone you trust the authority to act in your behalf when you can’t…
The difference between a Power of Attorney and Conservatorship
- David Greene
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These are two legal powers that accomplish the same purpose in two completely different ways. I’ll discuss the Power of Attorney today and the Conservatorship in my next blog. There are several kinds of Powers of Attorney but the most…