Assuming life insurance proceeds are excluded from her estate. Many clients believe that insurance proceeds are tax-free. That is correct as far as income taxes are concerned, but not for estate taxes. The reality is that the proceeds of all life insurance policies owned by you are included in your…
How can I avoid the need for a guardian? In order to avoid the imposition of the appointment of a court approved guardian, a person should have at least two primary documents which take care of the person’s financial concerns, and also the person’s medical decisions. After a person turns…
The new “Secure Act” legislation expected to be passed by Congress will affect estate planning & retirement planning in 2020 and beyond. As part of the late 2019 pile of bills expected to be passed to keep the government open, it is anticipated that Congress will pass a bill that…
My mother died and left almost everything to my brother, and very little to me. I think my brother influenced our mother to change her Last Will. What can I do? A legal action may be brought against the brother for undue influence if it is supported by the evidence.…
Q: Nashua estate planning client has questions about whether his parent’s manufactured home is covered by the NH “homestead” allowance? A homestead is a dwelling owned and used as the principal place of residence by the person claiming the homestead. Under RSA 480:1 every person is “entitled to $120,000 worth…
If you have ever wondered if it is worth the time and effort to draft a will, look no further than the Aretha Franklin estate for your answer. Aretha Franklin left an eighty-million-dollar estate comprised of the assets of her musical legacy, and it was initially presumed that she left…
New Hampshire’s recently adopted law on access to and administration of a deceased person’s “digital assets” provides some clarity on a complex issue. Terms of service agreements and privacy policies govern access to social media and email accounts, and most expire when a user dies and are not transferable. Surviving family members…
...about the use of a prenuptial agreement to support her estate plan. The use of a prenuptial agreement (defined in New Hampshire as an agreement “wherein a man and a woman in contemplation of marriage may enter into an inter-spousal contract”) can be a polarizing topic with many people viewing…
Some of our estate planning clients are trustees over trusts created by firm clients, or are asked to serve as a trustee or successor trustee over a trust drafted by other attorneys for a parent, sibling, or other relative. What a trustee must do to administer a trust is a…
Many New Hampshire business owners commonly have not reviewed their estate planning documents with an attorney in many years nor have they developed a formal business succession plan. To avoid huge mistakes, business owners should take the time to ask the following pertinent questions: Do I have a will and/or…