Inheritance Alternatives to a Stretch IRA?
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
Why Naming Beneficiaries Is Important to Your Estate Plan
If you’ve ever spent time working through your estate plan, you know how important it is to select and update your beneficiaries.
Who Should I Name as Trustee?
You created your revocable living trust to hold your assets. You did so because of the probate avoidance and other benefits. You may have included sophisticated tax-planning provisions in your trust.
Now is the Right Time to Approach 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. However, 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.
What Is the First Thing an Executor of a Will Should do?
At some point in your life, there’s a good chance you’ll be tasked with acting as the executor of an estate. The designation is both an honor and an obligation.
What Is the Social Security Increase for 2022?
A large 5.9% cost-of-living adjustment is coming to Social Security beneficiaries in 2022. That means the average monthly retirement benefit will go up by $92 per month. Exactly how much more money you will see may depend on the amount of Medicare Part B premiums.
What You Need to Know about Probate
A will is a legal document that spells out the distribution of your assets and how your children will be cared for at your death. Probate is a process used to prove a decedent’s will is valid and to supervise the handling of their estate.
When Should an Estate Plan Be Reviewed?
The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road.
What Is the Main Purpose of an Irrevocable Trust?
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
What Is Fair in a Second Marriage and Estate Planning?
If you are planning to take another walk down the aisle, it is critical to take the time to review and revise your estate plan, especially if meaningful assets and debts are being brought into the marriage.
