A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.
Do you want to disinherit your loved ones? Then simply name the wrong person on your beneficiary forms. That sounds too simple, yes, but everyday individuals die leaving their financial assets to the wrong person.
After someone dies and the estate is settled, how long can the deceased’s name remain on the deed?
A will and a trust are separate legal documents that typically share a common goal of facilitating a unified estate plan. While these two items ideally work in tandem, since they are separate documents, they sometimes run in conflict with one another–either accidentally or intentionally.
Healthcare is a major expense for seniors, so much so that recent estimates put the average cost of it at $387,644 throughout retirement for the typical 65-year-old couple retiring today. While that figure may seem astronomical, it actually doesn’t account for a related expense that many seniors will inevitably face: long-term care.