My spouse wants spousal support, what is it? how much do I have to pay?
Spousal support is the support amount that you would have to pay monthly to your spouse. This amount is determined by a judge and usually lasts for half the duration of the marriage provided that you have been married under 10 years. If you have been married for over 10 years, other factors are taken into consideration. This may result in you having to pay your spouse for more than half the duration of the marriage and even possibly for life. A judge is likely to use the
When do I need to review my estate plan?
When do I need to review my estate plan? Once you create your estate plan, the “maintenance” is pretty nominal on the document. Once every five years you will want to review your durable powers of attorney (both the finance and the health care directives). This is assuming that there are no changes in your life. However, if you do have changes in your life, such as getting married or divorced, or having children, you will need to update your estate plan (also known as a tr
What is the difference between a tax planning trust, and one without tax planning?
What is the difference between a tax planning trust, and one without tax planning? When an attorney refers to a tax planning trust or non-tax planning trust, he/she is really referring to a comprehensive estate plan with or without a tax planning provision. The tax planning provision is only applicable to married couples, and essentially allows the married couple to double the estate tax exemption amount and apply that amount to the couple’s estate. For example, if the exem