The first time that many people are introduced to the world of estate planning, is when a parent or grandparent passes away. This life event changes their perspective on its importance. Every family has its own “personality,” and finding an…
Accidents and traumatic health events happen to people every day, even to the healthiest among us. For some, a health crisis is a short term problem, but for many others, entire lives are changed. Without an estate plan, which includes…
There are pros and cons to the use of a life estate deed when it comes to the family home. Life estate deeds can be used to transfer real property to heirs and maintain the right to use or live…
Once you turn 30, if you haven’t already gotten focused on saving for retirement and managing your money, it’s time to grow up! One of the hallmarks of being an adult is having a job, an emergency fund with about…
With telephone and online scams growing, protecting seniors from strangers is an ongoing concern. But that’s not the only thing to worry about, when it comes to financial scams. Lucky is the senior who has more money than they need…
Leaving assets to your heirs is a great thing, but leaving an IRA to heirs requires knowledge and prior planning, as mistakes can be costly. If you pass away without using up all of the funds in your IRA, it’s…
Successful business succession planning should result in a smooth transition between the generations. Savvy, sophisticated trusts have protected the Detroit Tigers and their family owners. While members of the Ilitch family are known as the owners of the Detroit Tigers,…
Unlike going getting an annual check-up or renewing a driver’s license, there’s no penalty for the person who does not having a will and estate plan in place. Their spouse or children pay the price. What’s more scary about most…
Most people only learn about the difference between these two taxes when they are creating an estate plan or settling an estate. Depending on the state, heirs are surprised when they learn that their inheritance will be diminished by death…
Maybe this happens so often because it’s so simple. Take the time to review your beneficiary designation, unless you want to give an ex-spouse a nice surprise. The latest generation of retirees has spent years planning, saving and investing for…