When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
While it’s never fun or pleasant to think about what will happen to them if the worst should happen to us, it’s very important to consider how we can ensure that they are well cared-for when and if we are no longer able to care for them ourselves.
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
My dad is investing in cryptocurrency! I know nothing about it and, frankly, I am not interested in learning. I think it is a passing fad. When he dies and I am responsible for the distribution of his estate to my siblings, do I need to address the crypto?
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
Adult children typically don’t have to pay their parents’ bills. However, there are exceptions. Even when a child doesn’t have to pay directly, debt could reduce what they inherit.