Good morning, friends. Here is your opportunity to review or recheck any or all of the past week’s posts right here in one place. We welcome comments or suggestions for future posts. Keep in touch with us, and we will continue to keep you informed. Have a great day.
(Monday, March 23, 2015) What to Do with an Inherited Roth IRA
Different financial instruments have different rules about what can be done with them. The same thing holds true when you inherit the instruments. If you inherit a Roth IRA, the rules are different than a traditional IRA and you need to know what you can do with it.
Reference: Wills, Trusts & Estates Prof Blog (March 15, 2015) "Options for Inherited Roth IRAs."
(Tuesday, March 24, 2015) Stealing an Inheritance
Estate administrators are supposed to distribute assets according to the terms of the estate plan. But, what happens if they do not and use some of the money for their own ends? A recent case in the UK shows one of the possible consequences.
Reference: The Daily Mail (March 12, 2015) "'Black Widow' who married man on his death bed just eight days before he died is jailed for stealing his grandchild's inheritance."
(Wednesday, March 25, 2015) Can a Trust Really Be Irrevocable?
When people create irrevocable trusts, they normally intend for the trusts to be just that. However, sometimes circumstances change and they want to revoke the trusts. As it turns out, they often can thanks to legal developments in the last couple of decades.
Reference: Wills, Trusts & Estates Prof Blog (March 13, 2015) "Taking the Meaning Out of 'Irrevocable'."
(Thursday, March 26, 2015) When Siblings Fight
Siblings can often be our best friends and closest means of support when times are tough. However, nothing can bring down an estate plan faster than a sibling rivalry over that estate.
Reference: Private Wealth (March 10, 2015) "Blood Feuds."
(Friday, March 27, 2015) Using Estate Sales
In an estate sale personal property in an estate is sold off at auction. These sales are becoming increasingly popular in the United States. There are a couple of groups of people who can take advantage of this trend.
Reference: New York Times (March 11, 2015) "Managing Estate Sales Becomes Big Business."
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