Create Financial Plan for Happy Future

Saturday, July 11th, 2009

There are only a few people who actively plan for their financial success. Some may expect it or hope for it, but only one out of five people actually have a written plan on how they want their financial lives to work out. This is according to the recent financial literacy survey of Retirement Commission.

Author Arun Abey says that “drawing a financial plan may be a minority occupation. However, aside from being purely financial, it would also bring you a sense of wellbeing.” She further said that there’s a feeling of control and high satisfactory rating for people with a financial plan – it doesn’t matter if they’re simple wage earners or a rich accountant.

So, financial planning may also give us a notion of happiness and satisfies us as individuals. If you want to experience the same sense of purpose, you may go to financial planners or estate planning attorneys. When you go to them, you will be asked to fill out a statement of your insurances, debts, assets, and income. Generally, your adviser will also ask you about the household budget and the regular things that you’re spending on. Other estate planning details, such as family trust or will should also be included.

Tags: Arun Abey, attorneys, Estate planning attorneys, Family Trust, financial literacy, financial plan, financial planning, Retirement Commission, will
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Alternative Lifestyles Estate Planning

Wednesday, June 24th, 2009

When you say “alternative lifestyle,” it encompasses anything except a legal union of man and woman as a husband and a wife.  But whether you know how to use this term or not, estate planning’s surrounding laws are still predicated on specific family structure.  In many cases, that family structure doesn’t exist, that’s why particular attention needs to be given to estate planning.

For instance, the existing federal estate tax system is allowing unlimited marital deduction coming from estate taxes.  Simply put, even if you’re as rich as Bill Gates, there’s no federal estate tax when you leave all your money to your surviving spouse.

Because federal definition of marriage says that “it’s a legal union between a man and a woman as one husband and wife,” you need to make a different planning technique because unlimited marital deduction isn’t available to you.

Moreover, state and federal laws have default provisions and there are certain rights granted automatically to a spouse.  So if you don’t have a spouse, no one will have those automatic rights.

Estate planning may be difficult for many people.  However, you need to take a very active role to determine your estate plan so that you can make the decision to pass on your estate to the right person when you’re gone.  It’s best to seek the help of estate planning attorneys to assist you.

Tags: alternative lifestyle, attorneys, Estate Planning, Estate planning attorneys, federal estate tax system, marriage
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Protect and Claim what is Rightfully Yours

Sunday, April 19th, 2009

A person with vested interest in a will is someone who should have been considered as one of the beneficiaries or someone who’s already named as a beneficiary on it. In Colorado, any question on will validity should be filed in a probate court within a few days after receiving the notice of death.

There are various reasons why people might want to contest a will’s validity. Some of the common questions are:

· If my name is not in the will and I should have been included, can I sue?

· What are the odds of winning?

· How will the attorney handle my case? Will it be on a percentage basis?

Once a will is contested, the contester’s claims of invalidity must be investigated and the probate process needs to stop for a moment. This will definitely take a lot of time and money, sometimes, even throwing the proceedings completely off schedule.

However, any claim must be thoroughly investigated. Take note that you cannot contest a will just because you think Aunt Jane left so much less money for you than what you deserve. Acceptable objections to contest a will include fraud, will is not updated, testator was unsound during its writing, it was not properly witnessed, or it was written under influence or pressure from another party.

Colorado estate planning attorneys can help address questions pertaining to your specific situation. Contact one today and find out if you have a right to your claim.

Tags: Colorado, Colorado attorneys, Estate planning attorneys, will
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