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When a Washington couple decides to divorce , much of their energy and emotions are tied up in the process. There are many issues that must be decided, either through negotiation, mediation , or litigation. Estate planning might not be a front-burner concern but should be addressed as the divorce unfolds. Some changes are best made during the dissolution process while others should be left for after the divorce is finalized. Speak with a divorce attorney before making any financial or other legal changes. Analyzing the ...
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McKinley Irvin
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People contemplating or going through divorce frequently wonder which assets are subject to property division and which are not. For example, many individuals often question if an inheritance is divisible in a divorce. Inheritances Not Divided as Community Property in Divorce In most cases, inheritances are not subject to equitable distribution in a divorce since they are not considered community property. Rather, inheritances are considered separate properties, meaning an inheritance belongs to the person who received the ...
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McKinley Irvin
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Most people are aware that when a couple divorces, they must decide what to do with their home and divvy up the bank accounts and other assets accumulated throughout the marriage. But did you know that your 401(k), pensions, and other retirement accounts are considered assets that may also be subject to division? Below we have identified some common questions about what happens to these accounts during a divorce. How are 401(k) and IRA Accounts Split During a Divorce? Retirement accounts that include money that was earned ...
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McKinley Irvin
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By Brent Bohan , Associate Entertainment headlines came fast and furious when former NBA and reality TV star, Lamar Odom, was found unconscious at a Nevada brothel. And while Odom and wife, Khloe Kardashian, both signed divorce papers in July, a judgement was never entered into court and their divorce never finalized. That meant Kardashian was still next of kin – and legally responsible for making his medical decisions even though they’d filed for divorce . How did that happen? In many cases, when a person is hospitalized or ...
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McKinley Irvin
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Having a well thought-out will or other estate planning instrument in place can provide peace of mind and financial benefits for any family. This is particularly true for Native American families. The complex history of the law governing ownership and distribution of tribally-owned land and property poses/creates unique risks and concerns when it comes to the disposition of land and property upon the death of a family member. Such issues are best addressed with careful and professional estate planning legal services . The ...
Posted By
Elizabeth A. Hoffman
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Estate planning is an important legal tool often put on the back burner because people are very busy with their day-to-day activities. Before putting off estate planning any further, it is important to consider the various estate planning options available - particularly three heavily used estate planning tools: (1) wills, (2) living wills, and (3) living trusts. As laws vary by state, it is always important to seek legal advice from local family attorney experienced in estate planning in your jurisdiction. Wills A will (or ...
Posted By
J. Blake Hilty
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As baby boomers venture into the retired life, many are not just calling it a day. Today’s retirees are looking at their retreat as a second chance to fulfill their happiness, and many are finding that in a new marriage. Tips to Make this New Marriage Work for You & Your Finances Because boomer nuptials come later in a well-established life and are typically not their first marriage, there are often more complicated financial issues on the table. Couples should consider the following baby boomer checklist and financial ...
Posted By
Jennifer Payseno
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