The United States Supeme Court recently issued a ruling on U.S. v. Windsor, the estate tax case that pitted 84-year-old Edie Windsor against the Internal Revenue Service over taxes imposed when her long-time spouse, Thea Spyer, left Windsor her estate when she died in 2009.
Imagine if a loved one passes away without a will. In this instance, Florida law will determine how the estate will be divided amongst his or her heirs. When a person passes with a will, the terms and conditions of the document will control.
The recent revelation about the financial standing of Social Security's Disability Insurance program was not a surprise to many. Those close to the SSA had been issuing warnings for years indicating that the current model was unsustainable and that an overhaul wsa necessary.
Many people realize that estate planning is more than just putting together a will and choosing beneficiaries, but few understand (or consider) the emotional issues that come about when assets are actually distributed after they pass away. Indeed, the person creating the will has no control over how people feel about what is being left, but an increasing number of people are crafting their estate plans so that future family discord can be avoided.