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Mesothelioma is a type of rare cancer that is caused by exposure to asbestos and the inhalation of asbestos particles. Asbestos is a set of naturally occurring silicate minerals that is used commercially for its resistance to fire, heat, and electrical damage and applied for use in electrical insulation and building insulation.
Driving under the influence of a prescription medication, an illegal substance or an over-the-counter medication can be as unlawful as drunk driving. In the state of Florida, DUI is defined as driving under the influence of alcoholic beverages, chemical substances or controlled substances. What does this mean? It means that it is unlawful to operate a motor vehicle when your normal faculties are impaired by the means of alcohol, or any other substance.
A trade name can be the legal name of a company or may be a name under which it does business even though not actually incorporated under that name. For reasons that are primarily historical, trade names themselves are not federally registered, although may be registered by states.
Answer: Though prenuptial agreements are available to any couple, those entering into a second marriage or who already have children, stand to benefit the most by making sure a good prenup is part of their estate plan. Once you get married in Arkansas, you are automatically entitled to a portion of your spouse's estate when he or she dies.
If youíre creating an estate plan and want to leave your home to your family, there are a wide variety of options that allow you to do this. Each comes with its own benefits and drawbacks, and each state may have different laws that impact the transfers. Always talk to your estate planning attorney for detailed advice before you decide on any particular method.
When a beneficiary who stands to receive a gift under a Will dies before the testator dies, the gift has no one to go to. This is called lapse. When this happens, that gift passes according either to the terms of the Will or to your state's intestacy laws and not to the deceased beneficiary's descendants.
Whenever someone establishes or creates a Trust, the Trust property must be managed and looked after through a process known as Trust Administration. Depending on the kind of Trust involved, Trust Administration can be fairly simple or extremely complicated.
For anyone with a substantial estate, the never-ending search for mechanisms to transfer those estate assets without incurring estate taxes should include the use of both the gift tax exemption and the yearly gift tax exclusion. With estate taxes typically running at 35 percent or more, any tactic that can be employed in the estate planning arsenal to avoid the payment of estate taxes should be considered.
Most of us listen to the never-ending stories about money disputes in Hollywood and shrug them off as having no relevance to our lives. While most donít, there are some lessons to be learned from some of the infamous Hollywood money disputes that make the headlines on a regular basis. Take, for example, the recent death of music legend Etta James. The last year of Jamesí life can be an example for all of us about the importance of estate planning.
After you pass away, the transfer of assets to your loved ones may seem like a relatively simple and straightforward task. It should be but the realities of the tax code can make it rather challenging to avoid a significant portion of your legacy being consumed by the IRS.