Monday, October 30, 2023
Wise Law's Legal Headlines for the week of October 30, 2023
Friday, October 27, 2023
Legal Tweet of the Day: October 27, 2023
This week’s #FlashbackFriday post is from January 13, 2010
Thursday, October 26, 2023
Legal Tweet of the Day: October 26, 2023
Paul Adam on Wills and Estates: What is the difference between a Last Will and a Power of Attorney? Do I need both?
A Last Will only determines what happens to your property after
you have passed.
A Power of Attorney is used to appoint someone to manage
your property and your medical care if you are incapable. It is no longer valid
after death.
In some ways, having an Attorney who can protect you while
you are still living is even more important that having a will.
Wednesday, October 25, 2023
Paul Adam on Wills and Estates: Estate Tax
There are 3 basic ways in which most simple Estates may be
required to pay taxes.
1.
If all or part of your state is being submitted
to Probate, you'll need to pay what's called an Estate Administration Tax on
that portion.
2.
If you have to sell property or shares in a
corporation, your state may need to pay Capital Gains Tax on the proceeds from
the sale of that property.
3.
Lastly your Estate will need to file a tax
return for the year in which you die until your Estate is wrapped up and all of
the money is paid out.
Tuesday, October 24, 2023
Legal Tweet of the Day: October 24, 2023
Monday, October 23, 2023
Legal Tweet of the Day: October 23, 2023
Wise Law's Legal Headlines for the week of October 23, 2023
Friday, October 20, 2023
Legal Tweet of the Day: October 20, 2023
This week’s #FlashbackFriday post is from November 23, 2012
Thursday, October 19, 2023
Paul Adam on Wills and Estates: How important is it to have a Will if you are in your 30s and don’t have many assets?
Wednesday, October 18, 2023
Legal Tweet of the Day: October 18, 2023
Paul Adam on Wills and Estates: What is Probate?
When you name a person in your last will to be the Executor of your Estate, that person sometimes needs to also apply to the Court to be appointed formally as the legal representative of your Estate in order to deal with certain property that you own, potentially like a house or a bank account that solely in your name.
The process of applying to Court to be appointed as
the representative of your Estate is what we call Probate.
Tuesday, October 17, 2023
Monday, October 16, 2023
Legal Tweet of the Day: October 16, 2023
Wise Law's Legal Headlines for the week of October 16, 2023
Friday, October 13, 2023
Legal Tweet of the Day: October 13, 2023
This week’s #FlashbackFriday post is from April 17, 2015
Thursday, October 12, 2023
Legal Tweet of the Day: October 12, 2023
Paul Adam on Wills and Estates: Can I make my own Will using an online form?
Wednesday, October 11, 2023
Legal Tweet of the Day: October 11, 2023
Paul Adam on Wills and Estates: Guardianship
You can definitely name somebody in your last will to have
custody and guardianship of your minor children in the event both of the
parents pass away.
Now, the appointment you make in you last will is temporary.
That person will eventually need to apply to the court to be appointed as a
permanent guardian. But, when they make that application, the court will look
very closely on who you named in your last will, and factor that in the
decision about who should be the permanent guardian of your children.