Category: Heir
“Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does.” When the current health crisis finally passes, many people will have spent time considering what they want to do with their remaining years. That may include relocating. For some people, taxes are a […]
“Estate planning attorneys are getting mobbed with questions. Here is some timely advice from three attorneys on what families and business owners should be doing to prepare, in case the unimaginable happens.” What else could possibly go wrong? You might not want to ask that question, given recent events. A global pandemic, markets in what […]
“What is equal treatment at time of death can be disputed among the children, when some children have received substantially more in lifetime gifts than the others.” Most parents want to divide their estate equally among their heirs, but sometimes things just don’t work out that way. That’s especially the case when one child needs […]
“The stretch IRA is dead and everyone (including me) is writing about how this is the apocalypse for IRA planning. Well, it isn’t. Let’s all take a deep breath.” Yes, the SECURE Act has eliminated the use of the stretch IRA, which is the ability to pass an IRA down to a child or grandchild […]
“Giving appreciated stock shares, donating your RMDs and using charitable remainder trusts are just a few of the options you may not be aware of to help charities and your heirs at the same time.” America is a country of generous people. We give to organizations that we feel connected to, and we give to […]
“In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.” Privacy is just one of the benefits of having a trust created as part of an […]
“Probate is the legal process of presenting the will to the public, by hiring an attorney to present the will to the judge of the probate court. If the judge finds that the will meets all the necessary legal criteria, and there is no contest of the will, the judge signs a court order recognizing […]
“No good estate plan can afford to ignore the other assets, the ones called ‘illiquid.’ That category includes anything that can’t readily be converted to cash, in a regulated market with readily determined prices.” Many people are focused on their traditional assets that generate monthly statements, like bank and investment accounts, stocks and mutual funds. […]
“Last wills and testaments, which were invented centuries ago, are the most famous estate-planning documents.” Everyone knows what a last will and testament is. However, a will is not always the best way to distribute your assets, explains the Times Herald-Record in the article “Living trusts are better choice than wills“. Most people think that […]
“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 […]
