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 If an Estate Owes Back Taxes?
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
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.
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.
What are Biggest Blunders in Wealth Transfer?
We are approaching the biggest wealth transfer ever, as Baby Boomers prepare to hand off their life savings to their heirs. However, will their heirs actually get the full amount of the wealth intended for them…or will a large amount be lost to unnecessary taxes?
Do I Need More than a Will?
You should be aware of what a will can’t or shouldn’t do.
Estate Planning Brings Peace of Mind
Estate planning is a key piece of a comprehensive retirement plan.
What Do I Do with Estate Plan after Divorce?
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure that your estate planning is up to date.