Estate Planning Checklist, Especially for Procrastinators
Nobody likes to think about dying. However, it happens whether we prepare for it or not. If you don’t do some advance planning, it can cause even more longer lasting pain and grief, not to mention money and strained relations for your loved ones.
Ozzy Osbourne and Sharon Osbourne Have an Estate Plan
Ozzy Osbourne and Sharon Osbourne plan to pass on their significant fortune to future generations of their family.
Failing to Plan for Life Events Could be a Big Mistake
It is estimated that more than 50 percent of all Americans don’t have a will, and in our Future File business, we have estimated that less than 10 percent of the U.S. population has a complete legacy and wishes planning system.
Business Exit Planning and Estate Planning
Thinking of exit and estate planning in tandem, allows owners to ask relevant questions to bring their entire picture into focus.
Include These Three Items in Your Will
A will or trust explains what you want to have happen to your assets when you die, hopefully in a very, very long time. While most people understand that a will explains what to do with money, property, and children, there are other parts you might be surprised by.
What Does ‘Portability of Estate Tax’ Mean?
Portability first emerged as an estate planning strategy in 2011 and 2012 from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. It was made permanent by the American Taxpayer Relief Act of 2012.
What Did Kobe Bryant Do for Estate Planning?
The list of wealthy black celebrities who have died without a will in place is a significant one. Names on the list include Prince, who died with a net worth of about $300 million without having a will. So did John Singleton, Aretha Franklin, Jimi Hendrix and the great Bob Marley, to name but a few.
Do I Have to Pay Taxes on My Inheritance?
An inheritance is not subject to income taxes.
How Will the New SECURE Act Impact My IRAs and 401(k)?
A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.
You Could Be Hit with Penalty for an Early IRA Withdrawal
Most financial experts would agree that it is rarely, if ever, a good idea to take an early withdrawal from a traditional IRA or Roth IRA. This is due in part to the high cost of penalties that can hit an account holder for an early withdrawal (not to mention losing out on years of potential earnings).