What are Top ‘To-Dos’ in Estate Planning?
The biggest misconception people have about estate planning is that “they are not that old and can do it later,” say almost half (49%) of advisors in a recent Key Private Bank Advisor Poll on estate planning. Yet, the majority (73%) of advisors say the ideal age to start putting an estate plan in place is before 40—earlier than many people think.
Protect Your Estate with Five Facts
The inheritance you leave could be eaten away by taxes or given to the wrong person. Here are five tips to avoid that.
What are the Biggest Estate Planning Mistakes?
Taking a few simple steps now can potentially help save your beneficiaries thousands in legal fees and taxes.
What Should I Know about Beneficiaries?
Whenever you open a financial account, you’re almost always asked to name a beneficiary. Simply stated, a beneficiary of the account is someone who is entitled to the benefits of the account, typically, on the death of the account holder. If you’ve purchased life insurance, for example, you name a beneficiary, who receives the benefits of the policy when you pass.
What are the Penalty-Free IRA Withdrawals?
The contributions you make to your individual retirement account (IRA) are intended to supplement your income during your retirement years. However, as much as you’d like to let your IRAs remain untouched until retirement, unforeseen expenses may force you to withdraw some of those assets early.
Some Estate Planning Actions for 2020
This time of the year is a great time to revisit your estate plan, so you can ensure your legacy is protected for years to come.