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.
Why Is Estate Planning Review Important?
Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning.
Social Security Retirement Age Changing for Boomers and Beyond
While you can start Social Security payments at age 62, your monthly checks are reduced if you begin collecting benefits at this age. To claim your full benefit, you need to sign up for Social Security at your full retirement age, which varies by birth year.
Why are Siblings Battling over Mom’s Estate?
A 14-year-long legal fight among five siblings over a Queens woman’s estate has gotten so nasty that it landed two elderly sisters in jail, and now one of them may lose her home.
What was Stephen Sondheim’s Estate Plan?
Broadway legend Stephen Sondheim left behind an estate estimated to be worth as much as $75 million to his husband, charities and a dozen other friends, court papers show.
How Do I Conduct an Estate Sale?
Preparing for an estate sale can be a difficult and emotionally challenging task.
When Do I Need to Review My Will?
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.
Will Moving to a New State Impact My Estate Planning?
However, if you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.
