Page | 29
Inheritance and Divorce: ● In many states, inheritances received by one spouse are considered separate property, even if married. ● This means the inherited assets generally remain with the receiving spouse even in the event of divorce. ● However, individual state laws and specific circumstances can impact how inheritances are treated in divorce proceedings. Consulting with Professionals: ● Understanding inheritance laws and their potential implications in different scenarios is crucial. ● Consult with legal and financial professionals familiar with estate planning and divorce laws in your state. ● They can provide personalized guidance on structuring your plans, including trusts and beneficiary designations, to align with your wishes and protect your assets effectively. ***Remember, this information is intended for general awareness and should not be interpreted as legal or financial advice. Seek professional guidance to ensure your plans are tailored to your specific circumstances and comply with relevant laws. ***
Pour Over Will
Understanding Pour-Over Wills: Ensuring Your Estate Plans Align Considering a revocable living trust and exploring ways to manage your assets effectively after your passing is commendable. Pour-Over Wills and Living Trusts: When creating a revocable living trust, a pour-over will be a valuable tool to complement your estate plan. How it Works: ● A pour-over will direct any assets not already titled in your trust at your death into the trust. ● This ensures these assets are distributed according to the beneficiaries and instructions outlined within your trust, rather than through probate court. Potential Benefits: ● Streamlined Distribution: Assets avoid probate delays and costs, potentially leading to faster distribution to your named beneficiaries. ● Continuity of Wishes: Assets not initially placed in the trust are still directed according to your defined plan within the trust.
DISCLAIMER This plan does not provide legal, tax, accounting, or therapy advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal, tax, accounting, or therapy advice. You should consult your own professional before engaging in any transaction.
Ray Pearson Broker/Owner, Cobbleridge Realty Corp (631) 320.5849 www.Cobbleridgerealty.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online