After a spouse dies and the family gets through the funeral, the immediate concern is to square away the couple's assets and make sure the surviving spouse has enough to live on. After that, there is one more step to take: protecting yourself.
One area where you need to be proactive is to consider who...
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My Spouse Just Died – What Do I Need to Do with Our Assets?
Clients often come in bewildered about what they need to do with bank accounts and other assets after a spouse has passed away. People are always the most concerned about the home.
The good news is that there is usually very little to do. Spouses typically hold most of their assets "jointly." This means that...
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Don’t Add Your Child as a Joint Owner on Your Bank Account
So many clients tell me that they want to add a child to their bank account so that the child can help them pay bills and manage their finances, and also so someone will have access to the bank account should anything happen to the parent. I agree - but I don't agree with...
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Putting Assets in Joint Names to Avoid Probate – Will It Work?
Lots of people want to avoid probate. That's the court process that a family must go through to distribute anything that was in the decedent's name alone upon her passing. Despite its bad reputation, probate isn't the end of the world. Yes, it's a hassle, and yes, there are hoops to go through, but...
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