State laws generally make it so that once a married couple is divorced, ex-spouses lose all property rights.
I’ve decided I no longer want to leave my estate to my children. They are ungrateful brats. How can I set things up to give my money to charity when I die?
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility.
However, if you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
Here are the top five mistakes people make that upend their planning.
A divorce almost always comes with emotional, personal and financial complications. However, a divorce late in life also adds a level of complexity to your estate and tax plan.
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.
First, before making a gift or bequest outright to your youngest son, consider whether now or in the future he will possibly be eligible for governmental assistance based on his disability and his own assets.
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.