As we grow older, perhaps retired from working and raising families, the need for assistance with elder legal matters, estate planning, will and trust administration, and elder rights begin to come into sharper focus.
Parents of children with special needs are appropriately concerned about dying or no longer being able to care adequately for their dependent offspring. While in most instances, estates divide evenly among all children of the deceased, special needs children may require a larger share of the assets for their proper care in a stable and supportive environment.
When considering the various components of your will, tax considerations should be an important element to discuss with your professional estate planner. After all, leaving your heirs with substantially less because of an unintended tax bite is likely not your intent.
When you were just starting out and beginning to accumulate assets, thoughts of caring for your growing family’s future if you were suddenly gone likely developed. While in your twenties or thirties, you began to save, invest, and maybe even purchased a life insurance policy to protect your family’s financial future in the event of unfortunate circumstances.
Executors of the will of a relative or other loved one have an important obligation. That person has been bestowed the job of ensuring that all assets are distributed properly, according to their wishes, to all designated heirs. The task does not end until any probate court proceedings have been concluded, a final tax return filed, and the assets fully dispersed.
