When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
For disabled persons receiving financially based government benefits, supplemental needs trusts (‘SNTs’) can safeguard benefits and serve as an effective estate planning tool.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
A pour-over will can be an important part of a person’s estate planning checklist.
More Americans are now getting married over the age of 65 than ever before. Even though this may be a second or third marriage for many, caregivers should nevertheless be aware of certain aspects that shouldn’t be ignored amidst all the wedding plans and celebrations.
Estate planning should always be customized to each individual creating a plan. This is particularly important when planning for beneficiaries with disabilities.
This is big concern for millions of older Americans who don’t have a spouse, children or other family they can depend on to watch out for their well-being.
While it’s never fun or pleasant to think about what will happen to them if the worst should happen to us, it’s very important to consider how we can ensure that they are well cared-for when and if we are no longer able to care for them ourselves.
Many estate executors focus on estate taxes and forget about income taxes. That can be an expensive mistake.
Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.