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Incapacitation planning should be addressed in will

What will happen to your estate and loved ones if you become incapacitated from an illness, accident or age? Ideally, you would have addressed such a situation in a will. Incapacitation planning is an important aspect of your will and estate planning.

Such plans can ensure that your dependents will be provided for; guarantee an orderly management of your properties; and indicate your end-of-life treatment if in a vegetative state.

Postnuptial agreements; what you need to know

Without a doubt, the word “prenup” has made its way into many homes in the United States thanks to a string of high profile celebrity marriages. A postnuptial or postmarital agreement is a legal document designed for couples who are already married and is signed after the union has taken place.

Postnuptial agreements are not just for couples seeking divorce

The long arm of the IRS

In case you didn’t know, the IRS has a criminal investigation division. And they are decidedly proud of their well-earned reputation as a law enforcement agency. As you may have guessed, the division focuses on traditional tax cases, but has also worked in the areas of tax-related identity theft, money laundering, public corruption, cybercrime and terrorist financing.

The Criminal Investigation division has just released its 2017 Criminal Investigation Annual Report. As “the premier financial investigators in the world, and the only federal agency authorized to investigate federal income tax crimes,” they are the financial crimes experts. A snapshot of the 2017 year for the Criminal Investigation division:

How to choose the best executor for your estate

There are plenty of important decisions to be made when planning your estate: How to divide your assets, whether to make charitable donations and what kind of funeral you would like. One other important factor to consider is who will be the executor of your estate.

An executor is someone who handles important duties related to a deceased person's estate. Selecting the right executor to care for your estate is a big undertaking. After all, this person will have a huge amount of authority over your estate. When considering who to name as your executor, you should consider a few of these factors.

Prince heirs file for administrator change

People learn from experience, by watching others. When the musician Prince died without a will last year, it kicked off an intense and lengthy probate process. His estate is worth an estimated $100 to $300 million. The lack of estate planning surprised everyone, considering the artist’s level of control over his music during his career.

If you die without a will in New York, probate court will decide who gets your estate. Depending on your family, this is often a spouse, children or siblings. While Prince died in Minnesota, a similar system appointed as his sister and five half-siblings as his heirs.

3 Signs A Trustee Has Breached Fiduciary Duty

A trustee is tasked with managing the assets in a trust for the benefit of the trust's beneficiaries, and handling assets in the manner dictated by the terms of the trust. When a trustee fails in his or her duties, it is referred to as breach of fiduciary duty.

Breach of fiduciary duty can come in many forms. Sometimes, the trustee will flat out take money from the trust. More frequently, the breach may be subtle, and may not even be done maliciously, which does not make the breach any less wrong or the trustee any less accountable. For example, the trustee may favor one beneficiary over another, neglect to pay taxes or make bad investments with the money in the trust.

Obtaining guardianship and Alzheimer's disease

Alzheimer's disease is truly devastating, especially for the loved ones who are caring for their aging family member. While you desperately may want to step in and intervene and make sure your loved one is safe and getting the best care possible, all too often an adult parent will not be willing to cooperate. Rather, they will refuse the help you are trying to provide and insist on continuing to live their life how they want to - not recognizing the danger they are in.

This leaves many wondering what they can even do to help. Without power of attorney - and an aging mom or dad who no longer has the mental capacity to sign such legal documents - what is the next step to even take?

The problem of 'undue influence'

A phrase that comes up frequently in estate litigation is undue influence. It is the accusation that one party took advantage of another's frailty to defraud or steal from them.

Undue influence litigation challenges the terms of the individual's Will or other estate plans. It charges one party with manipulating the decedent to leave assets to them, instead of to the natural heirs equally - family members and loved ones equally.

What's the basis of your marital contract?

Like the bouquet at your wedding, the images of marriage are flowery. Love is without a doubt the basis of every marriage, but what principles will define your marriage that will make it uniquely yours? Will you recite traditional religious vows or write your own? Will your relationship be defined the same way in 20 years?

How you and your spouse define your relationship will likely change as time passes. Love and romance grow for some and fade for others. Although love can be whimsical and hard to describe, marriage is seen legally as a contract signed between two parties. What will this "contract" signify in your marriage?

How is property divided in a NY divorce?

One of the most important aspects of divorce for many couples, especially those with significant wealth, is the division of property. Different states approach property division differently, both with respect to how they define marital property and the rules regarding the division of assets. As to the latter point, states are generally divided between the community property and equitable distribution approaches to property division.

Community property states vs. equitable distribution states

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