What Do I Need to Know If I’m Getting an Inheritance?
Heirs receiving an inheritance can expect the process to take time. Having a plan for the money and consulting with professionals are also things to keep in mind.
Estate Planning Solutions for Second Marriages
I’m looking for guidance on where to start with planning in case something happens to me or my husband.
When Should I Update My Will?
There are some obvious triggers that might prompt you to update your will, such as changes in health or marital status. There are, however, also some not-so-obvious ones to be aware of, according to financial planners and attorneys.
Do I Need a Spendthrift Trust?
A spendthrift trust allows you to leave funds to a beneficiary without giving them full control over those funds.
What Do Higher Interest Rates Mean for Pensions?
Higher rates mean a lower lump sum. You are discounting [the value] of a stream of future payments.
Actor Ray Liotta’s Legacy
After years of toiling away in the entertainment industry, Ray Liotta was able to build up an impressive net worth.
Why Shouldn’t I Wait to Draft my Will?
It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
How Do I Talk to My Parents About Estate Planning?
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. But because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off — and even more pleasing to avoid them altogether. If there’s a lesson to be learned from the pandemic, however, it’s that waiting until the last minute to prepare is seldom a good idea.
What are My Responsibilities if I’m Named an Executor?
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out likely considers you to be responsible and detail oriented. An executor of an estate typically helps file paperwork, close accounts and distribute the assets of the deceased.
What Can Trusts Do for Me and My Family?
Trusts are often associated with the rich, but the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.