Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
Estate planning services refer to the process of managing and distributing one’s assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out likely considers you to be responsible and detail oriented. An executor of an estate typically helps file paperwork, close accounts and distribute the assets of the deceased.
Building and living off a nest egg is tough. However, you can make the situation even more difficult if you run afoul of some key laws governing retirement accounts.
Given their salaries and the chances of getting sued, physicians should strongly consider estate planning early in their careers.
An end-of-life program that enables patients with advanced cancer to document their wishes can enhance feelings of life completion, improve relationships with healthcare providers and decrease death-related anxiety, according to a presentation at the 2021 Virtual Association of Community Cancer Centers National Oncology Conference.
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
Reaching the point where you need to consider residential options for your mother can be overwhelming. Not only is it emotionally fraught, there are also financial and legal considerations.
In the wake of the coronavirus pandemic, many older adults are more socially isolated than ever — and thus more vulnerable to being financially victimized.
Dealing with a sick family member is a challenging and emotional time.
In order to give your brother half of the assets in the IRA, you will have to liquidate a portion of the account and pay the taxes on the liquidated amount if it’s a traditional IRA.
It’s true that if your child is on your deed as a joint tenant on your home, your home will not have to go through probate if your child survives you. At your death, your surviving child would immediately become the sole owner of your home without probate and with minimal transfer costs.
