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Roughly two-thirds of Americans are estimated to die without executing a valid will. As a result, assets in their name will pass under the laws of intestacy of their home state. The laws of intestacy are essentially default...more
Marital estate rights create the potential for catastrophic consequences should a spouse pass away at a time when the parties are physically separated but have not yet signed a separation agreement or been granted a divorce....more
Married couples often have wills naming one another as their primary beneficiary. People also often name their spouse as beneficiary of retirement accounts and life insurance policies. Upon commencing a divorce action,...more
During the divorce process, one often overlooked area is updating your estate plan. Divorce can impact beneficiary designations on life insurance policies, retirement accounts, and other assets and can also have tax...more
If your life changes, so should your estate plan. Marriage, divorce, death of a spouse, a birth and a changing relationship with a child are just some of the life changes that may affect your estate plan. Unfortunately, as...more
Presented by Cohen Seglias associate Whitney Patience O'Reilly on October 22, 2020. An often overlooked but important aspect of estate planning is the designation of beneficiaries—both primary and contingent—on life...more
So, you’ve signed your estate planning documents. Nice work. But don’t forget that just having a Will and Trust is not enough. How you own your assets is an essential part of the equation, and should be reviewed to ensure...more
Why do estate planning documents need to be updated when a couple is getting divorced? This simple story illustrates one of the key reasons. An Arizona couple had been married for several years and during their marriage had...more
It is speculated that Choupette Lagerfeld, the pampered Parisian pet of the iconic late German fashion designer, Karl Lagerfeld, may have a stake in Lagerfeld’s vast fortune....more
Who really benefits? You may be surprised! If you participate in a 401(k) or other retirement plan, have one or more IRA accounts, or life insurance policies, you need to designate beneficiaries to receive the benefits...more