Maximizing Spousal and Survival Benefits This is the second article of a three-part series to help married couples maximize the total amount of Social Security benefits they will receive in their lifetimes. The Basics of Spousal Benefits Coordinating spousal benefits is one of the most complicated areas of successful Social Security benefits planning. Overlooking the […]
Calculating Your Benefits and Deciding When to Apply This is the first article of a three-part series to help married couples maximize the total amount of Social Security benefits they will receive in their lifetimes. Why focus on maximizing Social Security benefits? Doing a little thoughtful planning now will lead to more immediate income, higher […]
Since 2009, Frank and Jamie McCourt have been embattled in one of the messiest, public divorces. The McCourts were like any other couple. They met, fell in love, got married, and had four sons. However, along the way they purchased a major league baseball team, numerous homes costing millions of dollars and led an extravagant […]
A majority of states statutorily provide a surviving spouse with the right to inherit a percentage of the decedent spouse’s estate, even where the decedent spouse’s will evidences an intent to disinherit the surviving spouse. This statutory provision is often referred to as the surviving spouse’s “elective share” of the decedent’s augmented estate. The share […]
Are you and your spouse both U.S. citizens? If not, the foreign citizenship of you and/or your spouse may have a surprising estate tax impact. THE MARITAL DEDUCTION If an individual’s estate exceeds the estate tax exemption amount ($1 million for federal and Minnesota estate taxes in 2011, if no Congressional action), he or she […]
Each year thousands of people who will be getting married need to consider whether or not they will change their last name. This no longer applies just to women. More often, men are considering changing their last name and more same-sex marriages are occurring. If an individual does decide to change his or her last […]
Everyone should have an estate plan to ensure his or her final wishes are expressed and followed. However it is even more important for the following individuals to have an estate plan to protect and provide for their loved ones:
Prenuptial agreements, also referred to as antenuptial agreements or prenups for short, are agreements entered into before marriage that most often outline the ownership and division of property should a marriage end either by divorce or death of one of the spouses. Prenups have commonly been associated with the ultra wealthy but that is no […]