Many people believe that upon making a Will, they now have an up-to-date plan for distribution of all property after death. That's true--but only for assets that the Will actually controls.
A Will only controls "probate" assets. A Will does not control "non-probate" assets. Non-probate assets are assets that transfer after the...
Military Couples and Overseas Divorce
Military couples should be wary before filing for divorce in a foreign country simply because it might be quicker of cheaper than obtaining a divorce in the U.S. A divorce decree from a foreign country generally won't be recognized in the U.S. unless one of the spouses was domiciled in the foreign country at time...
Is My Will Still Valid After My Divorce?
Yes, but... Divorce does not invalidate the entire Will. However, all provisions in the Will, including any fiduciary appointments such as trustee or executor, shall be read as if the ex-spouse predeceased the Will-maker. So, rest assured, your ex-spouse won't be in the driver's seat as the executor of your estate (unless you specifically...
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Indemnity – What It Takes to Collect
Indemnity clauses are common in divorce decrees to protect one spouse against the other spouse's court-assigned responsibility for paying a joint debt. "Indemnify" means to hold harmless for loss. A short scenario will help explain the concept:
Husband and Wife have a credit card in both names with a $5K balance. In...
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Husband and Wife have a credit card in both names with a $5K balance. In...
Thumbtack – New Way to Locate Professionals
I'm a proud member of Thumbtack, an internet based marketplace that helps consumers with specific needs find qualified and affordable professionals. To sign up as a consumer, simply visit Thumbtack's website. To view my profile on Thumbtack, click here. My profile, of course, includes a link to my website where prospective...
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Power of Attorney: the Demand for an Accounting
A durable power of attorney is a routine part of many people's estate plan. Unfortunately, sometimes the person designated under the power of attorney--the agent--no longer deserves the principal's special trust. My previous blog discussed steps involved in revoking a durable power of attorney. At that blog's conclusion, I mentioned that a demand...
Revoking a Power of Attorney
A durable power of attorney is a normal part of an estate plan. Yet, when a need to revoke a durable power of attorney arises, the "principal" (i.e. the person who gave the power of attorney to his agent) should do more than simply demand a return of the document. More is required...
Civil Protective Orders: Impact on Military Careers
Here's the scenario. An active duty servicemember commits family violence against the spouse. The spouse obtains a Protective Order through the civil court system that restrains the servicemember from commiting further acts of family violence. What's the impact to the servicemember's career? Well, there are four possible answers.
The...Dreaded “Due-on-Sale” Clause
Anyone who has actually read their Deed of Trust (commonly called "the mortgage") noticed the dreaded "due-on-sale" clause. Due-on-sale clauses are intended to stack the deck in favor of lenders. In simple terms, a due on sale clause gives lenders the right to accelerate or "call" the note and demand full payment of the debt any...
Federal Retirement Annuity and Thrift Savings Plan Estimator
Estimating the value of a Federal retirement annuity and Thrift Saving Plan (TSP) benefits is important to both Federal employees and spouses facing retirement or divorce. The Office of Personnel Management (OPM) provides an online tool called the Federal Ballpark Estimator (FBE) that helps answer these questions.
The FBE's stated purpose is...