An issue that comes up more often than many may think is the following scenario: One spouse names the other spouse as beneficiary of a ife insurance policy. Couple gets divorced. Beneficiary designation is never changed. Policy owner dies. Does the ex-spouse get the life insurance proceeds? For many years, this question was covered by case law arising from different jurisdictions, with some jurisdictions coming to the conclusion that if the beneficiary designation wasn’t changed, the ex-spouse still received the proceeds and others concluding that the divorce effectively acted as a termination of the beneficiary designation…READ MORE.
Whether it be on-line bank accounts, social media accounts, e-mail accounts, etc., most people today have digital assets. When one becomes incapacitated or deceased, how does a fiduciary gain access to this information? First, one must become familiar with the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA).
In a somewhat surprising decision, the Ohio Supreme Court on December 12, 2018, in Embassy Healthcare v. Bell provided some relief to surviving spouses for the debts of their deceased spouses under certain situations. Now, a creditor must look to the deceased spouse’s estate first before pursuing the surviving spouse for payment.
It’s that time of year when best intentions are set forth and New Year’s resolutions are made. However, according to U.S. News and World Report, by February over eighty percent of those new year’s resolutions have been broken. For many, it is time to make a very important resolution that is easy to keep and will provide benefits for yearsto come. Make a will.
Many times, I have been contacted by a client or potential client who requests to initiate a guardianship application for a family member because a doctor has diagnosed the family member with dementia and suggested that a guardianship was necessary. However, this is not always the case and additional questions need to be asked and additional options need to be explored before reaching such a conclusion.