What if you die intestate leaving no spouse (common law or otherwise) and no kids?
In that case the IRA assets would have been used up much more quickly than otherwise, and no surviving spouse is available to carry on with the Social Security survivor benefit.
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If there is no survivorship clause in the title deeds, your mum's half of house could pass under the law of intestacy to the four children equally (assuming no surviving spouse or new partner).
In other words, they have a 95% chance of not running out of money before the last surviving spouse no longer needs withdrawals.
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Using management techniques in family matters can be tricky, but executive women have developed a range of strategies for dealing with a no-show spouse.
Even if you leave behind no kids, your surviving spouse may not get all your assets.
Bonuses occur because couples pay tax on their combined income, no matter how much each spouse earns.
Being in Ihram means not whinging about people, not intentionally harming anyone and if you're married, no sexual relations with your spouse.
Otherwise, there is no telling what the estranged spouse may receive.
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Also called "solo" or "one-participant" 401(k)s, they are available to free-lancers, independent contractors and sole proprietors. as well as business owners with no employees other than a spouse.
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Scrubbing the floor is no aphrodisiac, and seeing your spouse doing it usually isn't either.
Summed up, for a divorcing spouse with little or no taxable income for the tax year, signing a joint tax return may pose considerable liability risk with no appreciable benefit.
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Commissioner, holding there was no two year bar and ruling a spouse innocent.
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Even the business of catching adulterers in the act, once a dependable income stream for private eyes, dried up when a change to marriage law in 1973 meant the party seeking a divorce no longer needed to prove that a spouse had cheated.
But having no trust at all might waste the first spouse's state exemption.
What do you do if your employer no longer provides health insurance coverage or your spouse cannot obtain coverage through your employer?
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The IRS no longer requires that an application for innocent spouse relief be filed within two years after it first acts to collect the joint tax liability in question.
In such an estate plan, there is no estate tax at the death of the first spouse to die.
But you might have no idea the IRS was trying to collect if your spouse was concealing it!
We know, for instance, that some marriages take place when the spouse is very young, and has little or no grasp of English.
Forbes.com asked financial advisors to comment on the best plan of action--assuming the higher contribution limits proposed by Congress--for people in three typical scenarios: a new entry to the workforce, a single professional with no dependents and an executive with children and a non-working spouse.
First of all, if the surviving spouse has remarried before age 60, the Survivor Benefit is no longer available to him or her.
Courts are no longer supposed to "balance the reasonable needs of the less-moneyed spouse with the ability of the more-moneyed spouse to pay, " he said.
The putative innocent spouse puts her own character and actions in issue by claiming she had no idea what was going on.
This case is no more than a slight variation the give-it-to-the-spouse cases.
Although co-signing a loan can also help build your credit, bear in mind that you and your spouse or other co-signer are contractually obligated to pay off that money no matter what happens.
Unlike a regular 401(k) plan, a solo 401(k) plan can be implemented only by self-employed individuals or small business owners who have no other full-time employees (an exception applies if your full-time employee is your spouse).
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