One common storyline in Hollywood movies is the rich father disinheriting the family outcast. The story usually traces a child’s attempts to win their family back. But can fiction imitate reality? Can you actually disinherit a child? In most circumstances, the answer is yes you can disinherit a child in most states. However, you must […]
When reading through a will or trust agreement, you may see language that grants a right to an individual to purchase certain property from the estate or trust at “fair market value.” At first glance, this phrase may seem a perfectly reasonable method of setting a suitable purchase price for a property to be sold. […]
Do you have an individual retirement account or other type of retirement account that you plan to leave to your loved ones? If so, proceed with caution! Inherited retirement accounts do not have asset protection when they pass to your loved ones, meaning creditors can seize the money in the accounts to satisfy any claims […]
Your retirement account provides asset protection during your lifetime, but as soon as you pass that account to a loved one, that protection evaporates. When a loved one inherits your retirement account, creditors can seize it and use the funds to satisfy their claims. All it takes is one lawsuit and your life savings could […]
