Since 2010, FATCA -- that is, the U.S. Foreign Account Tax Compliance Act -- has been deemed a nemesis rather than a savior by legions of Americans living overseas.
The idea of estate taxes can be troubling. If you have extensive property that has a value of $10 million or more (if you are married), estate taxes can become a very real concern. However, for some people, estate taxes are never an issue.
Trustees are central and authoritative figures regarding trust accounts, commanding a number of powers while they exercise close oversight and control over a trust's administration.
Investment News editor and financial planner Mary Beth Franklin ended up with a key take away from her husband's recent 65th birthday that she didn't remotely suspect would materialize amidst the festivities.
"Follow the money."
In a recent article published for Rolling Stone magazine, actress Billie Lourd revealed that she always lived in her mother’s and grandmother’s shadows. For the unititiated, Lourd’s famous mother and grandmother are Carrie Fisher and Debbie Reynolds, respectively.
We stressed in our immediately preceding blog post the logical need for individuals and families in California and across the country to periodically revisit the estate plans they carefully crafted in the past. We noted in our July 27 entry that the financial strategies and detailed expectations inherent in given estate administration documents and tools need to be adjusted sometimes "when the world around us changes."
Most states, including California, have laws in place to protect surviving spouses and other potential heirs to a decedent's property. This means that if one spouse dies, the other still has inheritance rights even if a will was never written or an existing will never updated.