Category: Estate Planning
Many people spend years planning for retirement and think they have it all figured out, until they actually retire. Think you got your retirement all figured out? Just to be sure, review these retirement myths to get the real deal on your golden years. You’ll probably retire earlier than expected. Although this sounds like a […]
A general rule is that Roth IRAs are good accounts to leave to loved ones. Distributions typically are tax-free, and if your heirs follow the rules, they can stretch distributions from a Roth over their lifetimes, allowing the bulk of the investment to continue growing tax-free. “The Roth IRA is pretty much the Cadillac of […]
Before you or a loved one says “I do,” there are a few things you should know about their money habits. Something old, something new, something borrowed and something … green? That’s not exactly how the saying goes, but addressing the “green” or money part of your relationship is necessary before marriage or cohabitation. A […]
In this case, Ms. Aldrich created her Will using an “E-Z Legal Form”. In her Will, she specifically identified certain property to give to her sister and, if her sister didn’t survive her, to her brother. At the time she executed her Will, these specific gifts covered all of her property. However, the E-Z Legal […]
Should you give your heirs gifts now? Or wait? Ultimately, there’s no “right” answer. This is a personal choice. Scenario: You have decided to make gifts to your heirs, but you are stuck on the timeline of it all. Will you give now while you are still here? Or will you plan to leave the […]
Although death planning can be emotionally vexing, it is essential for families and survivors. They may not know your true intentions without written directives. By the time the will is read or estate plan executed, it will be too late. Planning for your final years is hard. It’s not an easy or fun subject to […]
In the case of Casey Kasem, no matter what happens, there are no winners here—everyone loses. Don’t let this happen to you. Plan and communicate! Celebrities make the news time and time again, and every so often we can all learn a lesson or two on their mishaps. A recent CNBC.com article, titled “What we […]
Today, families are trying to fight that deadening of talent with incentive trusts that aim to ensure the next generation doesn’t become a pack of trust-fund slackers. A trust with strings attached is referred to as an incentive trust. These types of trusts impose specific, objective conditions for distributions, and leave little room for discretion […]
While most people realize that estate plans should be created to help distribute physical property such as real estate or jewelry, there is a growing need to consider intangible property. The Internet is increasingly becoming the main storage of our financial lives. A recent survey from Pew Research revealed that 51% of American adults bank online, and […]
According to Tom Lauricella of the Wall Street Journal, retirement is likely to cost more than you think. In a recent Sunday Wall Street Journal article, Lauricella discussed the pros and cons of five common retirement myths: 1. You’ll probably retire earlier than expected. Sounds like a good thing, but it’s not. Among the most critical […]
