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The passing of a spouse is a devastating time in a person’s life and one that throws their world into turmoil. While in the midst of grieving, they’re confronted with a multitude of responsibilities requiring their attention — not only the immediate tasks of preparing for memorial services and notifying family and friends, but also beginning to tackle the requisite legal notifications and financial changes.
More and more often, estate beneficiaries are retaining their own attorneys to make sure that the executor properly administers the estate.
Besides seeking to draft or alter wills and trusts, many clients were changing trustees, executors and the agents they assigned to oversee their finances and health care, if they were unable to make decisions themselves.
The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15, 2020, because of the novel coronavirus pandemic.
Amid the climate of uncertainty surrounding the coronavirus pandemic that is sweeping the nation, people are grappling with the difficult subject of estate planning … and not taking any chances.
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