If you have an Individual Retirement Account (IRA), once you reach the age of 70 ½ years, you must start making distributions out of the account each and every year. Should you fail to make these annual distributions, significant fines are triggered. These fines can equal up to 50% of the money which was supposed to be distributed in that year from … [Read more...]
How to Handle an Improper Will
Please click on the link below to watch today's video blog: https://youtu.be/diSYdWiNpXU Elliot S. Schlissel is a member of the National Academy of Elder Law Attorneys. Elliot and his attorneys have more than 100 years of combined legal experience handling all aspects of estate planning and estate litigation. Please call to schedule a … [Read more...]
How Do I Avoid Probate?
In some states, the probate process can be long and expensive. Wills, when they are probated, are public documents and anyone can go to the courthouse and view the Will. While there is a valid reason for drafting a Will and having it probated, in some cases this may not be the very best way to handle the transfer of assets from one generation to … [Read more...]
Misconceptions About Wills
Misconception 1: “I am not rich enough to have a will.” Response: Oh really! Do you have a car, a home, furniture, bank accounts, pension, 401(k), or life insurance? If you do, you are not too poor to have a will. You may end up being worth more at the time of your death than you realize. In addition to distributing your assets, a will allows … [Read more...]
Home loans – Who pays them in the event of your death?
There are a lot of questions that are very practical for real life and do cross our minds but we don't know where to seek the answers for them. One such question is if you have a home loan on your name, what happens in case of your death. Simply putting, the loan will get transferred to the co-applicant or the legal heirs that you have. Thus it … [Read more...]
Misconceptions Regarding Wills
To watch today's video blog, please click on the link below: https://youtu.be/XRVj__nSeAY Elliot S. Schlissel is a member of the National Academy of Elder Law Attorneys. Elliot and his attorneys have more than 100 years of combined legal experience handling all aspects of estate planning and estate litigation. Please call to schedule a … [Read more...]
Healthcare Proxy
It is suggested today that seniors living in America have healthcare proxies. A healthcare proxy allows an individual to designate another person to help him or her make decisions regarding healthcare in the event he or she becomes incapable of making those decisions. Healthcare proxies are designed to allow a person when they are cognizant of the … [Read more...]
Handwritten Wills
To watch today's video blog, please click on link below: https://youtu.be/WYaYj8FP0fQ Elliot S. Schlissel drafts wills and trusts and aids his clients in all aspects of estate planning. Elliot handles estate litigation, including issues where a person has died without a will or with an improper will. He and his associates have been handling … [Read more...]
Handling An Estate in a Nutshell
All human beings that live will eventually die. When a loved one passes, dealing with his or her estate is not a task most people look forward to. However, most people will, during the course of their lifetime, be involved with estate issues concerning a loved one. When the grief passes, the issues involved are who are the heirs of the estate, … [Read more...]
Naming An Executor In Your Will – Part I
The executor of a will is the person who is in charge of handling your funeral arrangements, paying the bills which accrued prior to your death or related to your funeral, gathering your assets, filing tax returns when appropriate, and seeing to it your assets are distributed to the appropriate beneficiaries pursuant to the terms of your will. So … [Read more...]
