Did you know that the state that you and your spouse reside in when you get divorced has a great deal to do with how your property is divided when you divorce? States follow one of two divorce law models: either community property or equitable distribution. Most states follow the equitable distribution model. The community property model, though practiced in only a small number of states, is radically different from equitable distribution.…
Read More »Many people automatically associate the word “estate” when it comes to dealing with someone passing away with people who have an actual, well, estate. This misconception is widespread and could cause chaos after a loved one’s death. Everyone has an estate, though it might not be as grand as you envision. Every single thing you own and every single debt you owe makes up your estate, and not making plans to take care of those issues is a huge mistake, no matter how much you have.…
Read More »When you’re writing out your will, there are many things to have in mind before you put pen to paper. Here is a list of the items to collect or decide before writing your will. What Are Your Debts? Create a list of all of your debts, the amounts that you owe, and the name of the creditor. This will help whoever is preparing your estate to speed up the process of closing out debts and distributing your assets as mentioned in your will.…
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