Death and taxes may be certainties of life, but how much tax your family pays upon your death is still within your control to a certain degree.
I am a single retired parent to an adult daughter, who is an only child. The home I currently reside for the last 26 years still has a mortgage and the deed is in my name only. I have a will that states everything is left to my daughter, and then to my grandson, if she proceeds me in death. Should my daughter be added to the deed?
Done right by a lawyer, your heirs can avoid the expense and time of probating your will and may save on estate taxes, while easing the administration of your affairs while alive and after you have gone.
The COVID-19 pandemic has made 2020 a nightmare for many people, and inadequate estate planning can exacerbate the pain.
Lack of understanding around estate planning may be leading Americans to avoid getting a will, even as interest is on the rise due to the global pandemic, according to a new survey from financial services leader Policygenius.