How Is Insurance Used in Estate Planning?
There may be potential benefits to life insurance beyond its traditional uses, especially when it comes to taxes, estate planning and long-term care.
Do You Need Power of Attorney If You Have a Joint Account?
As you know, a power of attorney (POA) allows another person, the Attorney-in-Fact (AIF), to conduct business on behalf of the principal. The POA authorizes the AIF to sign for and on behalf of the principal.
How to Keep the Vacation Home in the Family
Vacation property can become a family legacy. Keeping your cabin, fishing lodge, hunting property or other special assets separate for future generations is often a special goal for a family.
What Is the Main Purpose of a Trust?
Before you decide to put your home in an irrevocable trust, it is important to have a basic understanding of what you are doing and why.
If My Estate Is the Beneficiary of My IRA, How Is It Taxed?
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
Is a Handwritten Will a Smart Idea?
A holographic will is a will handwritten by the testator (the maker of a will). Holographic wills are recognized in about half of the states in the United States.
Do You have to Go through Probate when Someone Dies?
At some point in your life, you may find yourself an administrator, a beneficiary or a creditor of a probate estate. You may even want this information for planning your own estate.
Short-Cuts to Estate Planning can Lead to Costly Consequences
Over the years I get all kinds of questions from people. And boy, have I heard some doozies. But one common one I get is called the ‘lazy (or poor) man’s (or woman’s’) estate planning.’ This type of estate planning has some very negative tax consequences.
If I Buy a House, Should I have an Estate Plan?
Buying a home is one of the most common triggers for creating an estate plan.
What Happens If an Unmarried Partner Dies?
A proper estate plan will help those left navigate the disposition of assets and the probate court system, especially for unmarried couples and some married same-sex couples.