What Happens to Your Venmo, PayPal, and Apple Pay Accounts at Your Death?
Digital accounts such as PayPal, Venmo, and Apple Pay must be considered in your estate plan process. Find out how to avoid complications:
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Digital accounts such as PayPal, Venmo, and Apple Pay must be considered in your estate plan process. Find out how to avoid complications:
Taxes are not just for individuals—they can impact certain types of trusts as well. Whether a trust pays its own taxes or whether the taxes are paid by the trust’s beneficiaries or the trustmaker depends on several factors.
When establishing a trust, it is customary to designate oneself as the initial trustee with full administrative responsibilities, but for future contingencies such as illness or death, it can be beneficial to allocate the duties among multiple successor trustees.
When an individual owns a business entity that is classified either entirely or partially as an S corporation, it is important to seek the guidance of an experienced estate planning attorney and tax advisor when planning for death.
An individual’s belongings—such as jewelry, furniture, photographs, and books—sometimes slip through the cracks of their estate plan. However, getting rid of a book collection without first assessing it could be a mistake.
There are several proposals in the Greenbook that are meant to help alleviate some of the complications that have arisen in estate and trust tax matters and simplify the process.
Couples with highly appreciated accounts or property may get the most mileage out of their estate plans through community property trust.
If you are dealing with a job loss, you can transform what you may view as a crisis into an opportunity to protect yourself and your family.
Disinheriting a child, regardless of the reason, is generally not recommended as a means to manipulate a descendant or beneficiary.
Regardless of how much you have in the bank, you and your family can benefit from planning ahead for the future. If you fail to do so, you could leave your family scrambling if you’re suddenly incapacitated.
