What Should I Do when Spouse Dies?
While no one is ever ready to lose a loved one, proper planning in advance of a loss may help ensure that finances may be one less concern during such a trying time.
What Is the Best Way to Make Sure Children Can Handle an Inheritance?
How can you prepare your children to handle the assets they’ll eventually inherit?
What are the Options when Inheriting a House?
Inheriting a residential property like a house marks the end of a life and the beginning of deciding what to do with the property and implementing that plan.
Should I Name a Trust as Beneficiary of My IRA?
It’s generally a bad idea to name a trust as beneficiary of your IRA.
What Happens If My Trust Is Not Funded
Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.
How Does the Generation-Skipping Transfer Tax Work in Estate Planning?
Estate planning can help you pass on assets to your heirs, while potentially minimizing taxes. When gifting assets, it’s important to consider when and how the generation-skipping tax transfer (GSTT) may apply.
When Did You Last Review Beneficiary Designation Forms?
When it comes to your retirement accounts, do you know who your beneficiaries are? These types of accounts have complex distribution rules and significant tax implications for those who inherit them. This complexity is compounded, if there are errors or missing information on your beneficiary forms, as is often the case. Add to this the game-changer SECURE ACT, the largest retirement legislation that has been passed in decades—and there has never been a more important time to review your beneficiary forms.
How Can I Easily Pass My Home to My Only Child?
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?
Will I Get A Bill as My Inheritance?
Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.
What’s the Best Way to Go with Intrafamily Loans?
As parents, we often want to help our adult children who need a financial boost. Many times, this assistance comes in the form of a loan.