Coronavirus stimulus checks are currently being distributed, and millions of Americans are eagerly awaiting their payment. Depending on your income, you could receive up to $1,200 (or $2,400 for married couples filing jointly), plus an additional $500 for each dependent under the age of 17.
One of the biggest threats to your financial security isn’t the markets, interest rates or even your job security. It is a lack of preparation, particularly for unexpected events, that usually leaves investors reeling when markets swoon. If you haven’t protected yourself from the potential downsides in life, after all, then it’s difficult to maneuver when the unforeseen strikes.
Has it been awhile since you reviewed your estate planning strategy? If so, it may require some updating, based on recent changes to laws impacting your tax and retirement planning.
Under Illinois law, an individual holding a power of attorney is a fiduciary as a matter of law. The person designated as a power of attorney agent owes a fiduciary duty to the principal—the person making the designation.
Now you can actually have a voice in who is chosen, but you need to do it while you have capacity.
Survivorship periods don’t usually surpass 60 days. If this period surpasses 120 days, it could put the tax-free estate transfer of assets to a surviving spouse at risk.
It can be frustrating and nerve-racking when you can’t see a loved one face-to-face — a fact that so many family members with loved ones in assisted living or nursing home facilities are discovering during the coronavirus outbreak. To protect those who are most at risk of complications from the disease caused by the coronavirus, COVID-19, health officials have announced strict rules for some facilities with vulnerable older residents.
The main reason that people choose to have a living trust instead of a will, is that it avoids the probate system. Probate is the legal proceedings to decide whether a will is legal and binding. It also is the court session to decide where the property will go, if there is no will provided.
A will and a living trust are both part of a comprehensive estate plan, that sometimes are inconsistent with one another. When there are conflicts, the trust takes precedence.
Remote mental health care use among Veterans Affairs patients jumped dramatically last month as normal medical care appointments were disrupted and veterans forced into self-isolation because of the ongoing coronavirus pandemic.
If you have a question, a comment, or simply want to have a conversation and explore how we can help, we’d love to hear from you.
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Email: info@nvestateplan.com
Phone: 702-998-0444
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