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When a friend or family member passes away, they may leave behind some of their money or property. This is considered an inheritance. One thing that commonly confuses people is the difference between an inheritance tax and an estate tax. An estate tax is levied on the value of a deceased person’s belongings, properties, [...]
It’s never easy to hear that a loved one has a terminal illness. Even though it’s something most of us will deal with in our lifetime, we’re still shocked every time it happens, and many don’t know what to do next. Here are three things to do when a loved one receives a terminal [...]
With Valentine’s Day passed, love is on many people's minds. People celebrate love in a variety of ways, but it’s time to start thinking about your loved ones more sensibly. What if the loss of a family member were to occur, would you be prepared? Let Thornton Law help fill in the gaps with a [...]
One aspect of estate planning that we love is that it gives our clients a plan for things they never even thought they would need to consider. Estate planning isn’t just about doling out checks to loved ones, and it isn’t even just about a living will. What happens if or when we become [...]
It is common practice to revisit an estate plan every three to five years, but it is very important to do so when a life change happens. There are certain life changes that warrant another look at an estate plan. Here is a list of some of the most common to be aware of [...]
With the U.S. Supreme Court’s legalization of same-sex marriage in 2015 came more opportunities for couples in the LGBT community to take advantage of estate planning. With that in mind, it is vital to ensure any estate plans created prior to 2015 be looked at critically to ensure the language is consistent [...]
Making the right choice when finding an attorney is an important task. Do some research and find out which options are available in the area before making any commitments. Remember, this is the person who will be handling the ownership of one’s personal belongings so choose wisely. Here are some tips to help narrow [...]
We guide many people through the estate planning process, and we see the same mistakes and oversights made over and over again. With that in mind, we wanted to take a minute to go over some of those mistakes because these issues can cost you a lot.
More and more people are choosing to not have children these days. Still, at the end of life, where do these assets go?
Wills and other estate planning documents are usually written so that a person’s wishes for their property are explicitly and legally documented so their assets can be distributed according to their plans after they pass away. In the face of a divorce, however, the best laid plans may all get thrown out of the [...]
