Category: Estate Planning
“If you’ve ever spent time working through your estate plan with a professional, you know how important it is to select and update your beneficiaries. Failing to do so can result in costly mistakes—for you and your loved ones.” Here’s one way to mess up your estate plan: naming beneficiaries not by name, but by […]
“As our children with disabilities grow older, and we ourselves grow older, the future can seem daunting. The future can be overwhelming.” Taking steps to plan for the future when loving parents will not be there to help their disabled child as they age is a hard thing to confront. However, planning in advance for […]
“Sometimes it can be wise (or just pleasurable) to give your assets away, while you’re still alive.” Traditionally, giving assets away while still living was done in an effort to minimize tax liability at death. However, with the federal tax exemption amount at $11.4 million and growing each year with inflation indexing, federal estate taxes […]
“Estate planning sounds like you need to be of nobility and own country estates before it applies to you. However, estate planning only means that you are making a plan for when you pass away or are no longer able to make good decisions for yourself.” If you switch the term “estate” for “stuff,” maybe […]
“Every adult should have a will in order to determine property distribution after death. However, a will is limited in what it can do. Too often, a will cannot accomplish what you need or even expect it to do.” A last will and testament is an important part of an estate plan, and every adult […]
“To ensure animals’ well-being, you should pick a caregiver and set up paperwork, funding.” Currently, 67% of American households own at least one pet, and many people now consider long-term planning for them just as important as they would for two-legged family members, says The Atlanta Journal Constitution in the article “When you’re gone, what […]
“Talking about money is hard. Talking to your parents about their financial situation can be even harder.” Despite any uncomfortable feelings, the sooner you start talking with your parents about their financial situation, and the more conversations you can have, the better, says Wisconsin Public Radio in the article “How To Talk To Your Parents […]
“One of the most frequent questions asked in estate planning is whether a will is really necessary, particularly when someone has taken steps to avoid the probate process.” A will, also known as a last will and testament, is one of three documents that make up the foundation of an estate plan, according to The […]
“Taking care of these key tasks properly limits the potential for family turmoil and possible legal battles should you become incapacitated, as well as after your death.” Estate planning is a critical part of financial planning, but it is something that many Americans prefer to procrastinate about. However, drafting a will, health care proxy, and […]
“Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.” Think Advisor reported on a survey conducted by a financial services firm that revealed good news […]
