Monday, January 31, 2011
napavalleyregister.com: Couples ‘Living in sin’ stigma fades! Cohabitation & Domestic Partnership Agreements in Texas! http://dld.bz/7AJz http://amplify.com/u/ao426
Same-Sex Marriages in Texas
No “I Do’s” for Same Sex Marriages in Texas.
Before you get those bath towels monogrammed: Mr. and Mr. or Mrs. and Mrs., if you live in the state of Texas, there are few things you should consider.
The conservative state of Texas opposes same-sex marriages or civil unions. Same-sex marriages are contrary to the state’s public policy and are considered void. If the nuptials are void, a couple may not enjoy normal legal spousal rights, enforceability, protection or acknowledgements.
Rewind a bit and start with what is considered “same-sex” in the state of Texas. It is only natural for one to think of same-sex as two individuals who were born under the same gender classification. Two males are not permitted to marry one another nor may two women marry one another, although it is not so clear-cut in the Lone Star state.
The ambiguities commence when you first seek to obtain a marriage license. To receive a Texas marriage license you must submit a form of identification. This is where the process gets complex. There are several types of identification you can offer; a couple of examples are a copy your birth certificate or your driver’s license (in state or out of state). If either or both of these forms of sex/gender identification matches with your fiancé’s sex/gender, reconsider sending out those wedding invitations.
According to the current list of forms of identification, there are many couples whose marriage license application would appear complete and valid, but who in fact cannot lawfully marry. Earlier this year in El Paso, Texas, two people who appeared to be women, with the same genital organs applied for a marriage license. By Texas standards, ‘you are what you are born’; the two individuals did not deem it problematic or expect controversy since one of them was born a male. To be clear and safe from any procedural violations as to how to deal with the situation, El Paso County officials sought guidance from Texas Attorney General, Greg Abbott. Abbott declined to opine due to a pending case litigating a similar issue. The case Attorney General Abbott was referring to was the case in Wharton County where the validity of a widow’s marriage to a fallen firefighter is being contested as she was born a man and two males cannot legally marry in the state of Texas. The widow had undergone Reassignment Surgery (RAS) and is living as a female. For many, because the widow was born a man, the Wharton County case has nothing to do with the situation in El Paso. In El Paso, the couple were born of the opposite sex according to their birth certificates (which is supposed to the determining factor), whereas, in Wharton County both were born male. Attorney, Chad Ellis, states that there is nothing in the law that mentions anything about allowing someone to legally change their gender. Alternatively, nothing is mentioned about disallowing a person to legally change their gender.
On September 1, 2010, the Court of Appeals for the Fifth District of Texas overturned a 2009 ruling in the Dallas District Court. The Dallas court ruled it had jurisdiction over a same-sex divorce and that the marriage ban violates the Equal Protection Clause of the US Constitution. The Texas Court of Appeals ruled that the state ban on same-sex marriage does not violate the US Constitution and rationalizes it’s favoring of opposite-sex couples because of their natural ability to procreate. The court found that a person’s sexual orientation does not affect his or her ability to contribute to society, but it will determine whether or not that person will enter a relationship that is naturally open to procreation; preserving the state’s interest in “fostering relationships that will serve children best” and its legitimate interest in child rearing.
In 2009, the U.S. Census reported a total 581,300 same-sex partnered households while only 17% of them included children whether biological, adopted, or step-child. An article in the Journal of American Academy of Pediatrics (AAP) stated that children growing up in same-sex households have been described as being more tolerant of diversity and more nurturing to younger children than those raised in opposite-sex households.
Despite the state’s ban, some Texas cities are being recognized for what may seem contrary to its stance. According to the 2006 U.S. Census data, San Antonio, Texas had the highest number of gay couples raising children in the nation; Houston ranked number 4 and the Arlington and Fort Worth area as number 5.
Will Texas lift the ban on same-sex marriages and civil unions? Will it boil down to Texas defining same-sex as to what gender is marked on their original birth certificate and/or acknowledge transgender persons to be recognized as they view themselves? Or, will Texas lift its state ban against same-sex marriage altogether? For the time being, whether you are homosexual, transgendered, or a transgender person who appears to be gay, things get pretty fuzzy in the Alamo State when trying to legalize a union or seek to have a union legally acknowledged and/or enforced.
See this Amp at http://amplify.com/u/ao3yz
Friday, January 28, 2011
Huffingtonpost.com: 10 Lessons My Parents' Divorces Taught Me! Divorce Trial Strategy: Constructive or Nonproductive? http://dld.bz/k97y http://amplify.com/u/anv77
Monday, January 24, 2011
Fortune Magazine: 'Mass Affluent' are strapped too, Bank of America finds! CHAPTER 7: Consumer Bankruptcy http://dld.bz/aGs6 http://amplify.com/u/animd
Huffingtonpost: Your Divorce is Easiest at what age on the Kids? Parent Alienation & False Domestic Violence Allegation http://dld.bz/gtP6 http://amplify.com/u/anibf
Huffingtonpost.com: Kids Of Divorce: New Study Shows Links Suicide Risk! A Father’s Uphill Battle: I Love My Children! http://dld.bz/4AmN http://amplify.com/u/ani0k
Friday, January 21, 2011
Bankrate.com: Can you divorce your spouse's debt? Divorce: What is separate & community property? http://dld.bz/wCt2 http://amplify.com/u/bna6c
Thursday, January 20, 2011
HuffingtonPost.com: How are You Going To Tell Your Spouse You Want A Divorce? Preparing for a Texas Divorce http://dld.bz/Fzux http://amplify.com/u/bn1zy
Wednesday, January 19, 2011
Pitfalls of Pro Se Legal Representation
Pro se is a Latin term meaning “for oneself” or “on one’s own behalf.” To represent oneself pro se means to advocating for one’s own self before a court, rather than being represented by counsel. The right of a party to a legal action to represent his or her own cause has long been recognized in the United States, and even predates the ratification of the Constitution. But is this the wisest course of action?
According to National Center on State Courts, 71% of domestic relations (family law) cases have at least 1 unrepresented party. In 18% of cases both parties are pro se litigants. So where does the problem lie when a litigant decides to walk into a courtroom without proper legal representation? The simple fact is that the vast majority of pro se defendants lose their cases.
The following is a quote from a judge used against a Defendant who represented himself after murdering his girlfriend. “You don’t know how to ask a question…You don’t know how to offer things into evidence. You keep making stupid speeches. You keep saying you are good at this. You are not… I do not say this to insult you…You do not know the law.”
What’s important to highlight from the judge’s speech is that it really underscores the greater reason why it is tough for a party to represent themselves in court. Poor representation is likely to antagonize a judge. Being a lawyer in the United States requires a vast amount of knowledge regarding proper legal rules and court procedures. Areas of knowledge like the federal rules of evidence, state rules of civil procedure, and local rules of court are generally very foreign and unnatural concepts to a pro se litigant. However, these were created for reasons of fair, speedy, and efficient justice.
The justice system is designed, in large part, for the traditional full representation model. Virtually all aspects of the system, from the rules to the training of judges and court staff to the physical layout of the courthouses themselves, have been oriented to cases in which knowledgeable attorneys represent the parties. The ability of a party to proceed without an attorney in prosecuting or defending a civil action is largely a matter of state law, and may vary depending on the court and the positions of the parties.
Pro se appearances may delay a trial proceeding and enhance the possibility of a mistrial and a subsequent appeal. Pro se litigants are not entitled to an award of attorney’s fees. However, a Court may order a pro se litigant to pay the attorney’s fees for the opposing party.
In some instances, pro se representation is not allowed. A pro se litigant may not represent a corporation, as a corporation is considered a “person” separate and distinct from its officers and employees. A non-lawyer may not sign and file a notice of appeal on behalf of a corporation. Similarly, a pro se litigant may not act as a class representative in a class action proceeding. In other words, a pro se litigant may not bring a class action lawsuit.
Another situation in which appearance through counsel is often required is in a case involving the executor or personal administrator of a probate estate. Unless the executor or administrator is himself an attorney, he is not allowed to represent himself in matters other than the probate.
Few federal courts of appeals allow unrepresented litigants to argue, and in all courts the percentage of cases in which argument occurs is higher for counseled cases.
Legal forms are becoming increasingly available on-line. However, numerous problems arise when deciding to use online forms and services. More often than not, these services do not take into account specific state laws. Only an attorney authorized to practice law in a specific state can effectively advise a party regarding the various jurisdictional issues that may affect their case. Many states have varying requirements when it comes to witnesses, discovery, case experts, and specific language that must be included in legal forms. Failure to comply with state requirements may lead to a case being dismissed by the court and increase future litigation expenses.
While a party has the right to represent themselves pro se in a court of law, they should not expect any special treatment, help, or attention from the court. And enough importance cannot be placed on the fact that they must comply with the Rules of the Court, even if they are not familiar with them.
Perception is everything. Representing oneself pro se can send out all the wrong signals to a judge and/or jury: that a party is not taking the matter seriously, determined to be obstructive, penny-pinching, unwilling to compromise, believe they are right and cannot maintain a proper relationship with counsel, or just downright difficult. Is this really the impression you want the court to have?
It will probably come as no surprise that the most common excuse for not employing a lawyer is that one cannot afford it. That may be short sighted. A good lawyer ought to be able to achieve a result that is fairer and of better value than a litigant struggling to do so on their own. Add to that the possibility that failure to understand and comply with court orders may result in orders for costs being made against the pro se party and the numbers start to mount up. It’s also the lawyer’s job to try to broker a settlement in order to avoid the expense of protracted proceedings and a costly trial. Trying to negotiate a settlement without proper legal counsel may end in disaster.
According to National Center on State Courts, 71% of domestic relations (family law) cases have at least 1 unrepresented party. In 18% of cases both parties are pro se litigants. So where does the problem lie when a litigant decides to walk into a courtroom without proper legal representation? The simple fact is that the vast majority of pro se defendants lose their cases.
The following is a quote from a judge used against a Defendant who represented himself after murdering his girlfriend. “You don’t know how to ask a question…You don’t know how to offer things into evidence. You keep making stupid speeches. You keep saying you are good at this. You are not… I do not say this to insult you…You do not know the law.”
What’s important to highlight from the judge’s speech is that it really underscores the greater reason why it is tough for a party to represent themselves in court. Poor representation is likely to antagonize a judge. Being a lawyer in the United States requires a vast amount of knowledge regarding proper legal rules and court procedures. Areas of knowledge like the federal rules of evidence, state rules of civil procedure, and local rules of court are generally very foreign and unnatural concepts to a pro se litigant. However, these were created for reasons of fair, speedy, and efficient justice.
The justice system is designed, in large part, for the traditional full representation model. Virtually all aspects of the system, from the rules to the training of judges and court staff to the physical layout of the courthouses themselves, have been oriented to cases in which knowledgeable attorneys represent the parties. The ability of a party to proceed without an attorney in prosecuting or defending a civil action is largely a matter of state law, and may vary depending on the court and the positions of the parties.
Pro se appearances may delay a trial proceeding and enhance the possibility of a mistrial and a subsequent appeal. Pro se litigants are not entitled to an award of attorney’s fees. However, a Court may order a pro se litigant to pay the attorney’s fees for the opposing party.
In some instances, pro se representation is not allowed. A pro se litigant may not represent a corporation, as a corporation is considered a “person” separate and distinct from its officers and employees. A non-lawyer may not sign and file a notice of appeal on behalf of a corporation. Similarly, a pro se litigant may not act as a class representative in a class action proceeding. In other words, a pro se litigant may not bring a class action lawsuit.
Another situation in which appearance through counsel is often required is in a case involving the executor or personal administrator of a probate estate. Unless the executor or administrator is himself an attorney, he is not allowed to represent himself in matters other than the probate.
Few federal courts of appeals allow unrepresented litigants to argue, and in all courts the percentage of cases in which argument occurs is higher for counseled cases.
Legal forms are becoming increasingly available on-line. However, numerous problems arise when deciding to use online forms and services. More often than not, these services do not take into account specific state laws. Only an attorney authorized to practice law in a specific state can effectively advise a party regarding the various jurisdictional issues that may affect their case. Many states have varying requirements when it comes to witnesses, discovery, case experts, and specific language that must be included in legal forms. Failure to comply with state requirements may lead to a case being dismissed by the court and increase future litigation expenses.
While a party has the right to represent themselves pro se in a court of law, they should not expect any special treatment, help, or attention from the court. And enough importance cannot be placed on the fact that they must comply with the Rules of the Court, even if they are not familiar with them.
Perception is everything. Representing oneself pro se can send out all the wrong signals to a judge and/or jury: that a party is not taking the matter seriously, determined to be obstructive, penny-pinching, unwilling to compromise, believe they are right and cannot maintain a proper relationship with counsel, or just downright difficult. Is this really the impression you want the court to have?
It will probably come as no surprise that the most common excuse for not employing a lawyer is that one cannot afford it. That may be short sighted. A good lawyer ought to be able to achieve a result that is fairer and of better value than a litigant struggling to do so on their own. Add to that the possibility that failure to understand and comply with court orders may result in orders for costs being made against the pro se party and the numbers start to mount up. It’s also the lawyer’s job to try to broker a settlement in order to avoid the expense of protracted proceedings and a costly trial. Trying to negotiate a settlement without proper legal counsel may end in disaster.
See this Amp at http://amplify.com/u/bmtih
TMZ.com: $165K Legal Bill for Mel Gibson with Ex girlfriend! Parent Alienation & Domestic Violence Allegations! http://dld.bz/eTSd http://amplify.com/u/bmsv1
Monday, January 17, 2011
Time.com: 2011 Foreclosures Poised to Rise- Biggest Year Yet? BY ALL MEANS STOP THE FORECLOSURE! http://dld.bz/avJv http://amplify.com/u/bmep5
CNNmoney.com: Own a business? 6 new tax breaks! Debt Recovery Concerns for your Business ? http://dld.bz/e8bR http://amplify.com/u/bmefw
Children of Divorce Speak: Advice for 2011 Separating Parents! http://dld.bz/GjD2 Fathers & Parent Alienation Syndrome! http://dld.bz/bYmQ http://amplify.com/u/bmdul
Thursday, January 13, 2011
Huffington Post: Post-Divorce Advice: Child Support Problems? Texas Divorce: Texas Child Support Questions & Answers. http://dld.bz/3trY http://amplify.com/u/blte9
CNNMoney.com: 2010 - Largest Foreclosure Rates! 1 Million Homes Repossessed! Foreclosures in Texas: Can I Save My Home? http://dld.bz/2HQP http://amplify.com/u/bltbo
Wednesday, January 12, 2011
Same-Sex Marriages in Texas
No “I Do’s” for Same Sex Marriages in Texas.
Before you get those bath towels monogrammed: Mr. and Mr. or Mrs. and Mrs., if you live in the state of Texas, there are few things you should consider.
The conservative state of Texas opposes same-sex marriages or civil unions. Same-sex marriages are contrary to the state’s public policy and are considered void. If the nuptials are void, a couple may not enjoy normal legal spousal rights, enforceability, protection or acknowledgements.
Rewind a bit and start with what is considered “same-sex” in the state of Texas. It is only natural for one to think of same-sex as two individuals who were born under the same gender classification. Two males are not permitted to marry one another nor may two women marry one another, although it is not so clear-cut in the Lone Star state.
The ambiguities commence when you first seek to obtain a marriage license. To receive a Texas marriage license you must submit a form of identification. This is where the process gets complex. There are several types of identification you can offer; a couple of examples are a copy your birth certificate or your driver’s license (in state or out of state). If either or both of these forms of sex/gender identification matches with your fiancé’s sex/gender, reconsider sending out those wedding invitations.
According to the current list of forms of identification, there are many couples whose marriage license application would appear complete and valid, but who in fact cannot lawfully marry. Earlier this year in El Paso, Texas, two people who appeared to be women, with the same genital organs applied for a marriage license. By Texas standards, ‘you are what you are born’; the two individuals did not deem it problematic or expect controversy since one of them was born a male. To be clear and safe from any procedural violations as to how to deal with the situation, El Paso County officials sought guidance from Texas Attorney General, Greg Abbott. Abbott declined to opine due to a pending case litigating a similar issue. The case Attorney General Abbott was referring to was the case in Wharton County where the validity of a widow’s marriage to a fallen firefighter is being contested as she was born a man and two males cannot legally marry in the state of Texas. The widow had undergone Reassignment Surgery (RAS) and is living as a female. For many, because the widow was born a man, the Wharton County case has nothing to do with the situation in El Paso. In El Paso, the couple were born of the opposite sex according to their birth certificates (which is supposed to the determining factor), whereas, in Wharton County both were born male. Attorney, Chad Ellis, states that there is nothing in the law that mentions anything about allowing someone to legally change their gender. Alternatively, nothing is mentioned about disallowing a person to legally change their gender.
On September 1, 2010, the Court of Appeals for the Fifth District of Texas overturned a 2009 ruling in the Dallas District Court. The Dallas court ruled it had jurisdiction over a same-sex divorce and that the marriage ban violates the Equal Protection Clause of the US Constitution. The Texas Court of Appeals ruled that the state ban on same-sex marriage does not violate the US Constitution and rationalizes it’s favoring of opposite-sex couples because of their natural ability to procreate. The court found that a person’s sexual orientation does not affect his or her ability to contribute to society, but it will determine whether or not that person will enter a relationship that is naturally open to procreation; preserving the state’s interest in “fostering relationships that will serve children best” and its legitimate interest in child rearing.
In 2009, the U.S. Census reported a total 581,300 same-sex partnered households while only 17% of them included children whether biological, adopted, or step-child. An article in the Journal of American Academy of Pediatrics (AAP) stated that children growing up in same-sex households have been described as being more tolerant of diversity and more nurturing to younger children than those raised in opposite-sex households.
Despite the state’s ban, some Texas cities are being recognized for what may seem contrary to its stance. According to the 2006 U.S. Census data, San Antonio, Texas had the highest number of gay couples raising children in the nation; Houston ranked number 4 and the Arlington and Fort Worth area as number 5.
Will Texas lift the ban on same-sex marriages and civil unions? Will it boil down to Texas defining same-sex as to what gender is marked on their original birth certificate and/or acknowledge transgender persons to be recognized as they view themselves? Or, will Texas lift its state ban against same-sex marriage altogether? For the time being, whether you are homosexual, transgendered, or a transgender person who appears to be gay, things get pretty fuzzy in the Alamo State when trying to legalize a union or seek to have a union legally acknowledged and/or enforced.
Before you get those bath towels monogrammed: Mr. and Mr. or Mrs. and Mrs., if you live in the state of Texas, there are few things you should consider.
The conservative state of Texas opposes same-sex marriages or civil unions. Same-sex marriages are contrary to the state’s public policy and are considered void. If the nuptials are void, a couple may not enjoy normal legal spousal rights, enforceability, protection or acknowledgements.
Rewind a bit and start with what is considered “same-sex” in the state of Texas. It is only natural for one to think of same-sex as two individuals who were born under the same gender classification. Two males are not permitted to marry one another nor may two women marry one another, although it is not so clear-cut in the Lone Star state.
The ambiguities commence when you first seek to obtain a marriage license. To receive a Texas marriage license you must submit a form of identification. This is where the process gets complex. There are several types of identification you can offer; a couple of examples are a copy your birth certificate or your driver’s license (in state or out of state). If either or both of these forms of sex/gender identification matches with your fiancé’s sex/gender, reconsider sending out those wedding invitations.
According to the current list of forms of identification, there are many couples whose marriage license application would appear complete and valid, but who in fact cannot lawfully marry. Earlier this year in El Paso, Texas, two people who appeared to be women, with the same genital organs applied for a marriage license. By Texas standards, ‘you are what you are born’; the two individuals did not deem it problematic or expect controversy since one of them was born a male. To be clear and safe from any procedural violations as to how to deal with the situation, El Paso County officials sought guidance from Texas Attorney General, Greg Abbott. Abbott declined to opine due to a pending case litigating a similar issue. The case Attorney General Abbott was referring to was the case in Wharton County where the validity of a widow’s marriage to a fallen firefighter is being contested as she was born a man and two males cannot legally marry in the state of Texas. The widow had undergone Reassignment Surgery (RAS) and is living as a female. For many, because the widow was born a man, the Wharton County case has nothing to do with the situation in El Paso. In El Paso, the couple were born of the opposite sex according to their birth certificates (which is supposed to the determining factor), whereas, in Wharton County both were born male. Attorney, Chad Ellis, states that there is nothing in the law that mentions anything about allowing someone to legally change their gender. Alternatively, nothing is mentioned about disallowing a person to legally change their gender.
On September 1, 2010, the Court of Appeals for the Fifth District of Texas overturned a 2009 ruling in the Dallas District Court. The Dallas court ruled it had jurisdiction over a same-sex divorce and that the marriage ban violates the Equal Protection Clause of the US Constitution. The Texas Court of Appeals ruled that the state ban on same-sex marriage does not violate the US Constitution and rationalizes it’s favoring of opposite-sex couples because of their natural ability to procreate. The court found that a person’s sexual orientation does not affect his or her ability to contribute to society, but it will determine whether or not that person will enter a relationship that is naturally open to procreation; preserving the state’s interest in “fostering relationships that will serve children best” and its legitimate interest in child rearing.
In 2009, the U.S. Census reported a total 581,300 same-sex partnered households while only 17% of them included children whether biological, adopted, or step-child. An article in the Journal of American Academy of Pediatrics (AAP) stated that children growing up in same-sex households have been described as being more tolerant of diversity and more nurturing to younger children than those raised in opposite-sex households.
Despite the state’s ban, some Texas cities are being recognized for what may seem contrary to its stance. According to the 2006 U.S. Census data, San Antonio, Texas had the highest number of gay couples raising children in the nation; Houston ranked number 4 and the Arlington and Fort Worth area as number 5.
Will Texas lift the ban on same-sex marriages and civil unions? Will it boil down to Texas defining same-sex as to what gender is marked on their original birth certificate and/or acknowledge transgender persons to be recognized as they view themselves? Or, will Texas lift its state ban against same-sex marriage altogether? For the time being, whether you are homosexual, transgendered, or a transgender person who appears to be gay, things get pretty fuzzy in the Alamo State when trying to legalize a union or seek to have a union legally acknowledged and/or enforced.
See this Amp at http://amplify.com/u/blp4x
Monday, January 10, 2011
Serious Parent Alienation happening in your divorce? Any Brain Washing of the kids against you? Dallas Divorce http://tinyurl.com/qvlhem http://amplify.com/u/bl9ff
Must Read for Every Homeowner! Massachusetts Court to Banks on Foreclosures: The Law Matters! http://dld.bz/FctP Nacollawfirm.com http://amplify.com/u/bl8zc
Friday, January 7, 2011
Huffington Divorce: Some Major Divorce Myths Debunked! What about Baby Boomers and Divorce? http://dld.bz/g3xp http://amplify.com/u/bkva4
CNNMoney.com: SBA New Small Business Loans approved in 'minutes'! Good Time to Form a Texas Business Corporation? http://dld.bz/brFc http://amplify.com/u/bkum5
Thursday, January 6, 2011
Heartland.time.com: The Divorce So Bad the Family Judge Flip Out! DivorceTrial Strategy: Constructive or Nonproductive? http://dld.bz/k97y http://amplify.com/u/bkr93
Wednesday, January 5, 2011
China Planning Marriage Cheaters Website! http://dld.bz/EreR Great Idea for the US?? Nacollawfirmblog.com & Fathersrightsdallas.com http://amplify.com/u/bknjs
HuffingtonPost Divorce: Financial Affairs Still Married but Want Divorce? Cohabitation & Domestic Partnership Agreements? http://dld.bz/7AJz http://amplify.com/u/bknhb
Huffington Post: Father's Italian Custody Battle Continues! Parental Alienation & False Domestic Violence Allegations http://dld.bz/gtP6 http://amplify.com/u/bkneq
Tuesday, January 4, 2011
Huffingtonpost.com: Being a StepMother is The Most Thankless Job In The World! Step-parent Conflict: Put the Kids First! http://dld.bz/eptT http://amplify.com/u/kij7
In Sickness and in Health: When is the Right Time to Prepare a Will
Despite the recent drama over Michael Jackson’s death, he did many things right when it comes to end-of-life estate planning. The most critical thing Jackson did was to name a business associate as executor to carry out his wishes and designate a guardian for his minor children. He also set up a family trust that should keep the division of his estate out of the public eye.
As opposed to Jackson, Steve McNair, former NFL quarterback, died intestate (without a will). According to reports not personally verified by the writer, McNair had a wife, two children from a former marriage, and two children from a previous relationship. Now, instead of being able to decide for himself how his property should be distributed, the distribution of his assets will be determined by a formula set forth under state law.
Too often people do not get around to making a will. The problem is there is no deadline to make sure it is done before your death, and people do not like to think about dying. It is important to remember that if you die without a will state law dictates what happens to your property and assets and a court of law may determine who has custody of your children.
While mortality is a difficult topic to discuss or think about, leaving your family with large financial decisions isn’t pleasant either. Start by assessing your overall financial picture – your net worth. You need to identify not only your financial investment assets but also the value of your real and personal property.
Craft a will. With the assistance of an attorney, you can outline how you wish your estate – your assets and liabilities – to pass through after your death. Your assets along with your debt will need to be handled by your family. Identify anything that may need to be taken care of in case you are incapacitated. Check on taxes that may need to be paid by your estate. Remember to keep your will updated if you move, remarry, divorce, or experience any significant change in your life.
In some cases you may wish to discuss your desires with trusted family members. By letting others know what your plans are, you can prevent misunderstandings after your death. In some cases complete privacy is indicated. Choose an executor. Whether it is a family member or friend, the executor needs to be someone that can be trusted to handle the decisions and paperwork surrounding your death and the probate of your estate. Choose a successor. Be careful when choosing a spouse whose health may be failing along with your own.
Protect your assets with a trust. Setting up trusts can allow you to provide for your family and beneficiaries after you are gone and in some cases bypass probate and the associated expenses altogether. Plus, in the appropriate case and jurisdiction a trust may aid in lessening the potential taxes on your estate. Talk over your planning and estate needs with a financial advisor. You can provide an income to a surviving spouse and children, safeguard your assets until your children reach a set age or establish a trust for a charitable organization. The benefits of a trust are: federal unified tax credit to leave assets tax-free; providing income to one beneficiary for his or her lifetime, and the balance to others; professional investment assistance and management; and postponing estate taxes with property transfers. The various types of trusts you may want to consider and/or discuss with your attorney are: revocable living trust; testamentary trust; living trust; and irrevocable and charitable trusts.
Keep your children in mind. Make sure that you name a guardian who will care for them into adulthood. Establish how you want your children to inherit your estate, whether it is through investments or trusts. Choosing the guardian of your children is very important. Be sure that whomever you name is aware of and willing to take on the responsibility. You may want to also take into consideration their age and health.
Periodically review your plan (especially in the case of divorce or death of a spouse or beneficiary). Your estate will change over time. Do not assume that what you set up five years ago will be what is best for your present estate. Money grows, investments change, you may downsize your housing needs – reassess your plan and make the changes in writing.
As opposed to Jackson, Steve McNair, former NFL quarterback, died intestate (without a will). According to reports not personally verified by the writer, McNair had a wife, two children from a former marriage, and two children from a previous relationship. Now, instead of being able to decide for himself how his property should be distributed, the distribution of his assets will be determined by a formula set forth under state law.
Too often people do not get around to making a will. The problem is there is no deadline to make sure it is done before your death, and people do not like to think about dying. It is important to remember that if you die without a will state law dictates what happens to your property and assets and a court of law may determine who has custody of your children.
While mortality is a difficult topic to discuss or think about, leaving your family with large financial decisions isn’t pleasant either. Start by assessing your overall financial picture – your net worth. You need to identify not only your financial investment assets but also the value of your real and personal property.
Craft a will. With the assistance of an attorney, you can outline how you wish your estate – your assets and liabilities – to pass through after your death. Your assets along with your debt will need to be handled by your family. Identify anything that may need to be taken care of in case you are incapacitated. Check on taxes that may need to be paid by your estate. Remember to keep your will updated if you move, remarry, divorce, or experience any significant change in your life.
In some cases you may wish to discuss your desires with trusted family members. By letting others know what your plans are, you can prevent misunderstandings after your death. In some cases complete privacy is indicated. Choose an executor. Whether it is a family member or friend, the executor needs to be someone that can be trusted to handle the decisions and paperwork surrounding your death and the probate of your estate. Choose a successor. Be careful when choosing a spouse whose health may be failing along with your own.
Protect your assets with a trust. Setting up trusts can allow you to provide for your family and beneficiaries after you are gone and in some cases bypass probate and the associated expenses altogether. Plus, in the appropriate case and jurisdiction a trust may aid in lessening the potential taxes on your estate. Talk over your planning and estate needs with a financial advisor. You can provide an income to a surviving spouse and children, safeguard your assets until your children reach a set age or establish a trust for a charitable organization. The benefits of a trust are: federal unified tax credit to leave assets tax-free; providing income to one beneficiary for his or her lifetime, and the balance to others; professional investment assistance and management; and postponing estate taxes with property transfers. The various types of trusts you may want to consider and/or discuss with your attorney are: revocable living trust; testamentary trust; living trust; and irrevocable and charitable trusts.
Keep your children in mind. Make sure that you name a guardian who will care for them into adulthood. Establish how you want your children to inherit your estate, whether it is through investments or trusts. Choosing the guardian of your children is very important. Be sure that whomever you name is aware of and willing to take on the responsibility. You may want to also take into consideration their age and health.
Periodically review your plan (especially in the case of divorce or death of a spouse or beneficiary). Your estate will change over time. Do not assume that what you set up five years ago will be what is best for your present estate. Money grows, investments change, you may downsize your housing needs – reassess your plan and make the changes in writing.
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