Ways to Ensure Adequate Financial Protection After your Divorce By Elizabeth Sopinski Not only is divorce a test of your emotional and psychological strength, it makes each spouse realize that he/she will not have the other to lean on for financial support. Finances are stressors in just about every marriage, but it may seem to be an insurmountable task to get your finances in order after a divorce. Some tips that you might consider following while your divorce is pending to lessen the [...]

If you own property -- whether houses, bank accounts, or vehicles -- in more than one state, do you need estate planning documents for each state? The answer is probably no, but you need to do some planning if you want to avoid going through probate in each of the states. A lawyer can generally draft a will that is generic enough to be probated in any state except Louisiana, which has very specific rules. However, real property in another state is subject to probate in that state even if you [...]

Choosing Retirement Account Beneficiaries Requires Some Thought While the execution of Wills requires formalities like proper witnessing and the need for a notarized witness affidavit, the reality is that most property passes to heirs through other, less formal means. Many bank and investments accounts, as well as real estate, have joint owners who take ownership automatically at the death of the primary owner. Other banks and investment companies offer payable on death accounts that permit [...]

Estate Planning and Retirement Considerations for Late-in-Life Parents Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel just welcomed his third daughter. Janet Jackson had a child at age 50. But later-in-life parents have some special estate planning and retirement considerations. The first consideration is to make sure you have an estate [...]

Is the “Right of First Refusal” a Good Idea forChild Custody Agreements?by Michael Osburn, Esq. What is the “Right of First Refusal”? During the negotiation of a child custody agreement, a parent will sometimes ask whether he/she can have the “right of first refusal.” The idea is that if one parent is unable to care for the child during his/her designated custodial period, the other parent must be given the opportunity to care for the child before entrusting [...]