If you are going through a divorce, updating your estate becomes a key part of moving on with your life. According to the law, you are legally married until the judge signs the final divorce decree. Thus, should you pass on before finalizing the divorce process, your...
Year: 2021
Common mistakes you need to steer clear of during divorce
Divorce can leave you emotionally and financially drained. Sometimes, a couple may reach a mutual agreement to dissolve their marriage with the help of a mediator. However, it could boil down to the Court’s decision about your specific case at other times. Either way,...
Avoiding unenforceable conditions in trusts
Conditional trusts -- or trusts that require the beneficiary to meet certain obligations spelled out within the trust’s documents -- are often criticized. They essentially allow the deceased settlor of the trust to exert “dead-hand control” over their heirs’ futures....
Is divorce easier at any specific age?
Divorce is rarely something people consider “easy” to handle, no matter their age, but is it easier for some age groups than others? Not really. Your age and the length of your marriage do tend to make a difference during divorce in one significant way: What you focus...
What should I do if my spouse refuses to sign my divorce papers?
Let’s face it, divorce can be emotionally trying and taxing. Things can get even more difficult if your spouse is uncooperative. If you have made up your mind to file for divorce, you are probably looking to break free from a broken marriage and make a fresh start in...
Major life changes that require an update on your estate plan
So you have created a comprehensive estate plan that outlines how you wish to have your assets distributed when you pass on? Congratulations! That’s just the start, however. To remain effective and reflective of your wishes, you are going to need to review and revise...
Avoid these 3 estate planning mistakes
Many people set their ideas on a specific estate planning tool, such as an incentive trust or offshore trust, because someone they know uses one or because they have read good things about them in the press. That is a mistake. There is no standard way to make an...
How hard should you fight in a custody case?
You are divorcing your partner of several years and need to decide what happens to your minor children. You’ve seen friends fight tooth and nail over custody and wonder if you will need to do the same -- or if you should. It depends. Ideally, you and your spouse put...
3 times people could benefit from a trust in their estate plan
Trying to keep things simple works in some situations, but not universally. For example, focusing on simplicity might leave you under-protected when it comes to creating at your estate plan. Adding more documents can mean better protecting yourself and the people that...
What happens to your shared property in a New York divorce?
Couples about to head to divorce court often have a lot of issues they still need to resolve. If they have children, they must determine how to share custody. If they don't have prenuptial agreements, they will have to find a way to split their property with one...