Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning.
Trusts are often associated with the rich. However, the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.
Planning for your future should start after you get a job. Therefore, it is advisable to start saving a certain percentage of your salary every month and buying assets whenever you can. That will guarantee that you will have a comfortable life after retirement.
Of course, just because you have a living trust doesn’t mean you are all set. Here are a few of the most common mistakes people make with their living trusts.
These are among the things an estate attorney can help you with planning. That’s why it’s essential to ensure you have one by your side, if you’re leaving an inheritance behind.
Good estate planning must consider more than what you want to happen to your property and for your beneficiaries. It also must consider what you intentionally want to avoid happening.
Tax obligations continue on despite the passing of a loved one, and in some cases, come about because of it. Tax deadlines pose a challenge for grieving families.
Here are the top five mistakes people make that upend their planning.
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.
One reason for having a will is to make sure your wishes are carried out. If you die “intestate” (without a will), your assets will be distributed by state law, not by your desires.