Estate Planning Tips for Blended Families
Estate planning for blended families presents unique challenges. Unlike traditional family structures, reports Barrons recent article titled, “When Remarrying Creates a Blended Family: Advice From Financial Pros,” blended families often involve complex relationships and diverse financial backgrounds, making the process of estate and financial planning more intricate. This article has tips for blended families on identifying overall estate planning goals and concerns and identifying heirs to protect your new family and future.
Here’s Why You Need an Estate Plan
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
Gift and Estate Tax Exemption Limits Increase for 2024
It’s nobler to give than to take, the saying goes, and giving assets to loved ones while you’re still alive is a great way for them to enjoy the benefits right away—and for you to delight in seeing them enhance their lives.
Special Needs Planning
Estate planning should always be customized to each individual creating a plan. This is particularly important when planning for beneficiaries with disabilities.
Can Unequal Inheritances Be Fair?
The important thing to acknowledge is that the emotions behind the reasons are not trivial, but are important and should not be dismissed or minimized.
Why are Contingent Beneficiaries Important?
When planning your estate rarely will you experience difficulty naming your initial beneficiary or beneficiaries for your will, IRA’s or life insurance.
How to Pass on Family Heirlooms with Fewer Estate Battles
There are better—and often more creative—ways to plan and divide that can avoid family squabbles over cars, jewelry, furniture and household items.
What Is Multigenerational Estate Planning?
When multiple generations live on the same property, issues over ownership, who inherits what and who provides what can get complicated fast.
Planning for Upcoming Federal Estate Tax Changes?
The closer we get to 2025, the more complicated estate planning gets for people who have an amount between where the limits are now and where the limits might be in 2026.
Transferring Property to Heirs? Skip Top Five Mistakes
Death is inevitable, but dying without an estate plan is not. Estate planning is a must for property owners, no matter how uncomfortable the subject might make you.
