When you receive a gift from someone’s estate, you can refuse to accept the gift for any reason. This is called “disclaiming” the gift. When you disclaim a gift, you have no right to decide who gets it. Instead, the inheritance will pass on to the next beneficiary listed. Once the decision is made and legally filed, it is not revocable.
Wills and revocable trusts are beneficial planning documents used to pass assets on to beneficiaries after death. However, there are very distinct differences. To make the best decision for your family, you should know the three major distinctions between wills and revocable trusts. Privacy When a will is administered, it must go through the court … continue reading the entire article
At times we may find ourselves caring for a loved one who is unable to function independently. Whether their disability is from injury, illness, or other causes, legal and financial issues arise when the person receives sizable funds such as an inheritance or lawsuit settlement. The money is intended for the use and care of … continue reading the entire article