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Creating an estate plan is an excellent first step. However, it isn’t something you can do one time and forget about it. Your life will go through multiple phases that may bring significant changes. Here are some that may require you to revise your estate plan: 1....
If you are creating an estate plan, you should be realistic about family dynamics and needs. It is not uncommon for Delaware parents to split an inheritance unequally among their children, but the best time for their children to find out about this should not be once...
Delaware does not levy an inheritance or estate tax. It also has the sixth lowest property tax in the entire nation. The state also declines to enforce a gift tax. However, the federal gift tax is still applied at the federal level. It takes effect if you received a...
Delaware residents name an executor in their last will and testaments so that the executor will carry out their final wishes. Sometimes, the executor may pass away, causing complications. In this event, a successor executor named in the will takes over the estate. The...
Managing guns in your Delaware estate refers to the transfer of a firearm in an estate plan. Your estate in Delaware can gift a gun to a designated person listed in your will. If you leave no instructions in your will, the executor can choose what to do with the gun....
Estate planning attorneys in Delaware and around the country have to know a lot of Latin terms, but per stirpes and per capita may be the two that they encounter most often. These legal terms are both used to describe the way a testator’s assets are distributed if one...
Estate planning is a way for you to ensure that someone carries out your wishes after you pass or when you are incapacitated. This way, a designated individual you trust assumes control over your financial and medical affairs when you cannot do so as a Delaware...
If you are about to get a divorce in Delaware, you may be wondering if it will affect your estate plan. You should take time to create or update several critical documents to ensure that your end-of-life planning reflects your new marital status. Wills Many spouses...
After having worked hard your whole life to accumulate assets, it's natural that you'll want a say in how they're bequeathed after your passing. A will is your assurance that the people and charities you care about will receive their proper share of your Delaware...
Estate planning plays a critical aspect in your personal finances and relationships. A key component of estate planning is creating a durable power of attorney. What is a durable power of attorney? As you age, you become more likely to experience an illness or injury...
