Learn the basics of Estate Planning, including wills and probate, trust, beneficiary designations & taxes.
Most people who choose to prepare advance directives do so to remove any doubt of their wishes in the event of a situation where they may be deemed unable to make decisions.
Estate Planning is the way to ensure that your assets and property are dealt with in the manner that you choose, even after your death. Along with a will, living trust, and other estate planning documents, a living will is crucial when it comes to stating, and securing, your wishes.
Joint ownership can be helpful as well as hurtful Joint Ownership: Does it make sense for you? Joint ownership of assets is a way for two or more people to own shares in an asset. The asset generally is real estate but can be other property such as a brokerage account, insurance company products [...]
Most people have a general fear of probate which is often based on publicity or misunderstood information. The press and numerous articles explain the hazard of probate and the underlying expenses which could wipe out an estate. Are these real or imagined concerns? The answer is quite simple, it all depends. It depends on the size and complexity of the estate. It depends on instructions from the will of the decedent.
To Roth or not to Roth, that is the question Most people are very well aware of the benefits of building a retirement nest egg using a Roth IRA. One of the less well known aspects of a Roth IRA is how it can be used for estate planning. This is probably because of [...]
Life after the memorial: 9 things every widow MUST do in order to protect her financial well-being Losing a spouse is difficult at any age, but it is particularly devastating for women nearing retirement. Many of these women may have assumed more traditional roles during a marriage, such as the stay-at-home mother or they may [...]
What’s in a name? A lot if that name is a beneficiary of your annuity. Your annuity fund has the possibility of becoming a significant financial asset, one that can significantly benefit both you and your heirs in the future. Annuities, along with other financial contracts such as 401(k), life insurance policies, and IRA’s, comprise [...]
In my line of work, I have the unfortunate job to deal with the passing of someone’s spouse, parent, or sibling. I see in these moments of grief I know how, if the details aren’t thought of ahead of time, the pain can be compounded with the frustration of trying to navigate through the messiness [...]
Avoiding probate can be tricky, but you might be able to successfully do it following these three straightforward ways. If you own stock certificates or have a brokerage account the ‘transfer on death’ option can be used to avoid probate. This option is often called the ‘Uniform Transfer on Death Securities Resignation.’ You can designate [...]
A very significant thing has recently happened regarding estate taxes. The significance of this chance is far reaching, the agent that grasps this will be far ahead of the competition. Not only will this rule change make a huge difference is how estates are handled in regards to estate tax liability, it also opens the [...]
