Here’s an example of how the best made plans can be undermined. Your 401(k), 403(b) or IRA accounts are robust and healthy, and then a tax law changes. As a result, there’s less money for your retirement. A serious retirement…
Using a life estate can help you pass down your home to heirs without going through probate, which is costly and time-consuming. Check with an estate planning attorney to make sure this is right for you. A number of estate…
If a trust is created in one state, but the beneficiaries live in another state and the couple who originally created the trust move to a third state, is the trust still valid? In summary, the general answer is yes.…
Your will covers the legal side of estate planning, but a Letter of Final Wishes comes from the heart. Use it as a means of telling your family what you’d like them to do and to know, when you are…
For a healthy nest egg that will provide you with an enjoyable, worry-free retirement, you’ll need to start saving and investing now. It takes time and smart planning. Working hard on building your retirement nest egg right now? That’s excellent!…
If you are prone to over-organization, then the idea of owning multiple IRAs will appeal to you. IRAs are the cornerstone of many people’s retirement strategies. They were designed that way, offering attractive tax breaks that working people appreciate. Did…
Young parents who are busy with babies and small children aren’t what come to mind when you think of estate planning, but without an estate plan, their most precious children are unprotected. Nothing changes a person’s perspective more than welcoming…
This is the worst case scenario that no one wants to think about, but if both you and your spouse should die before your children turn 18, a trust is a way to provide for your children. Minors (children under…
If your idea of retirement means not working and enjoying a life of leisure, you’d better start crunching numbers and planning for the unexpected. People like to daydream about their retirement. They imagine themselves traveling, playing with grandchildren, sleeping late…
Distributing assets is only one part of an estate plan’s purpose. The other is to provide clear direction to family members concerning aspects of aging, including illness and end-of-life decisions. The word “estate” may bring to mind a large home…