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Articles Tagged with law

marital status estateBy Nathan Vinson, Attorney

English, Lucas, Priest & Owsley, LLP

Facebook has a neat little box that you can check to indicate your relationship status. There are some options that are clear cut – or at least seem to be: married, divorced, single. There’s another option that’s becoming more popular as of late called “it’s complicated.” It’s a handy box to check when life is messy.

Unfortunately, though, there’s no “it’s complicated” box to check in legal documents. In the eyes of the law, you’re either single, legally separated or married. There’s no in-between for marital status.

The lives of Luther and Shirley Mills definitely fell under the “it’s complicated” category, and the Kentucky Court of Appeals recently ruled on whether or not the couple was legally married at the time of Luther’s death. At stake was Luther’s estate.

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documents photoIn our last post, we discussed how divorce affects an estate plan. A thorough review of all estate documents is critical post-divorce to ensure you’ve covered every conceivable scenario and changed every document necessary. Allowing an attorney to do that review for you is always in your best interest, as attorneys have a keen eye for details and wording that may escape even a close reader who does not have legal training.

Taking this matter one step backwards, though, we’re examining annulment versus divorce in this post. While both lead to the same conclusion – you’re no longer married – these two scenarios have very different consequences when it comes time to pay taxes.

Both parties may file as married at tax time if they were still legally married at the end of the calendar year. Options include filing a joint tax return, as many married couples do, or checking the married but filing separately box.

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Morguefile photo by Ricorocks

Having a child can be exciting (and stressful).  Probably the last thing you might think to do when having a child is to update an estate plan, but it’s absolutely necessary.  Here are 6 things to consider when you have a child.

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Elvis items

Many people collect all kinds of things, and these collections come to hold tremendous sentimental and in some cases monetary value. As people age, they begin to think about who they would like to have certain items or entire collections, and sometimes, bold relatives or friends suggest they’d like to receive something special to remember you by. Gifts and promises of gifts are also made to honor a special relationship.

These type of collections can cause significant arguments after you are deceased. The best way to avoid such disputes is to clearly specify in writing exactly who is to receive what items. Verbally telling a relative or friend what you would like for them to have upon their death, and giving away significant items while you’re still living, causes confusion and prompts some to get greedy.

It’s the last thing anybody wants after they’re gone.

 

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