What Power Does an Executor Have?
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility.
Should I Place My Home in a Trust?
Part of being a responsible homeowner is having a proper estate plan in place. After all, considering the home is generally the largest asset most people own, it’s prudent to ensure this asset is passed to the people you wish to leave it to.
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.
What Estate Planning Documents Should Everyone Have?
This is a great time to get organized with estate planning—it will make things a lot easier for yourself and your loved ones.
How Does a Charitable Trust Help with Estate Planning?
In general, the best reason to establish a charitable trust, is if you would like to create a long-standing form of charitable giving.
What Happens to IRAs and 401(k) when Spouse Dies?
The rise in the stock market over the past several years, teamed with the passage of the SECURE Act two years ago and the scheduled 50% reduction in the size of the federal estate tax exemption four years from now, has resulted in a renewed interest in estate planning for IRA and 401k accounts owned by married couples.
Update on Transfer Taxes for 2022
Despite the various proposals to lower federal transfer tax (estate, gift and GST taxes) exemptions and increase the tax rates, none of them were enacted in 2021.
How to Check the Validity of a Will
Without a valid will, a person’s estate passes to their surviving heirs under intestate succession (i.e., ‘succession without a will’).
How Should I Handle an Inheritance?
Although you may be excited about the prospect of receiving unexpected money, there are certain financial moves experts say you should make to make sure you’re prepared for that inheritance.
What Is Considered an Asset in an Estate?
This is an important question to ask, because the answer could tell you whether you need to worry about estate taxes, beneficiary issues or probate concerns.
