If There is No Last Will and Testament, Who Will Inherit Your Estate?

If There is No Last Will and Testament, Who Will Inherit Your Estate?

Last Will and Testament - If There is No Last Will and Testament, Who Will Inherit an Estate?When it is said that a person has died intestate, it means that they died without leaving a Last Will and Testament. A Last Will and Testament is among the documents we call, “the four must-have legal planning documents.” The other three documents include: Durable Power of Attorney, Health Care Proxy, and Living Will.

The purpose of a Last Will and Testament is to express your wishes and identify who is to receive your property and assets upon your passing. It is imperative to complete a Last Will and Testament if you want to have a say on who receives your assets when you are no longer with us.

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How Should I Store my Tax Records?

Tax Records - How Should I Store my Tax Records?As tax preparers, we see all kinds of taxpayers—organized, not organized, and some in the middle. Whether you come prepared with an accordion folder of neatly organized documents or an old shoe box with scraps of paper, you should be cautious in the way you keep your tax records.

Stories and warnings of identity theft, financial fraud, and scams are an everyday occurrence; these instances are a real concern to millions of Americans. The rise of identity theft, fraud, and scams should caution us to evaluate how we store our important data, such as our tax records.

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How Long Should I Keep my Tax Returns?

Tax Returns - How Long Should I Keep my Tax Returns?Tax season is fast approaching and many taxpayers are reviewing their paperwork to figure out what documents are necessary and what can be discarded. This can be a daunting experience that leaves many with the question: how long should I keep my tax returns?

The length of time you should keep a tax-related document typically depends on the action, expense, or event which the document records. Generally, you should keep your records until the statute of limitations runs out.

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Breaking News: President Obama Signs the Special Needs Trust Fairness Act into Law!

Breaking News: President Obama Signs the Special Needs Trust Fairness Act into Law! by Vincent Russo

This past Tuesday, December 13th, the Cures Act, containing the SPECIAL NEEDS TRUST FAIRNESS ACT, was signed by President Obama and passed into law; this marks an enormous milestone for individuals with disabilities! The passage of this legislation establishes liberties for persons with disabilities which had been previously denied to them.

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How Can a Crowdfunding Account Affect a Person on Medicaid and SSI?

How Can a Crowdfunding Account Affect a Person on Medicaid and SSI? by Marissa Kleiner

Over the past couple of years, when on social media, I have seen more and more crowdfunding and personal fundraising efforts. Crowdfunding sites such as GoFundMe and Kickstarter cut out the middleman of fundraising, allowing the person or organization in need to appeal directly to the general public.

In many cases, crowdfunding takes place when a family member or friend has a medical emergency and needs help with paying the bills. Unfortunately, many do not take into account other contributing factors or benefits some people may already be receiving. For example, if a crowdfunding site is established for a person with special needs who is receiving disability or medical benefits, negative repercussions can be seen.

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