“Should I terminate these trusts and just have my children as beneficiaries of my investment accounts and life insurance?” Continue reading

“Do I need a trust in case something happens to me?” Continue reading

“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.” Continue reading

“The word “estate” has always been connected to “ultra-rich” families, those with a lot to leave behind after their death. However, definitions have changed, and anyone who has anything to leave behind needs to plan their estate. “Estate planning” essentially becomes your family’s guidebook, once you are no longer in the picture. Sounds important? Definitely, and here’s why.” Continue reading

“Wealthy families could face combined tax rates of as much as 61% on inherited wealth under President Joe Biden’s tax plan, according to a recent analysis.” Continue reading

“Leaving behind a home for a loved one to inherit is a huge gift, but without the right planning, it could be an equally large headache.” Continue reading

“Many baby boomers may hesitate to discuss money with their children. However, the reality is that a massive amount of wealth will be transferred in the next couple of decades. Cerulli Associates estimates that about $68 trillion will move between generations within 25 years, with most of those assets transferred to Generation X households.” Continue reading

“Vanguard has sent me a beneficiary designation verification letter. For the primary beneficiary, it says it will be the person I am married to at the time of my death. For the secondary beneficiary, it says, my descendants “per stirpes.” I have one child. Should the beneficiary designation include his name?” Continue reading

“The overdue decision to stop publishing certain Dr. Seuss books, because they contain racist imagery has caused quite a hullabaloo — a Seussian word, if there ever was one.” Continue reading

“Over the years, several high-profile celebrities have died without either properly updating their estate plan or having one at all. The list includes Princess Diana, Prince, Heath Ledger, Michael Jackson and Kurt Cobain, all of whom were worth millions and among the most famous people on the planet at the time of their death.” Continue reading

“Over the years, several high-profile celebrities have died without either properly updating their estate plan or having one at all. The list includes Princess Diana, Prince, Heath Ledger, Michael Jackson and Kurt Cobain, all of whom were worth millions and among the most famous people on the planet at the time of their death.” Continue reading

“While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home.” Continue reading

“Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.” Continue reading

“Charitable remainder trusts give you more options and more control on how your heirs inherit, now that the “stretch” IRA is a thing of the past.” Continue reading

“Here’s a closer look at what per stirpes vs. per capita means.” Continue reading

“Here’s a closer look at what per stirpes vs. per capita means.” Continue reading

“When it comes to your retirement accounts, do you know who your beneficiaries are? These types of accounts have complex distribution rules and significant tax implications for those who inherit them. This complexity is compounded, if there are errors or missing information on your beneficiary forms, as is often the case. Add to this the game-changer SECURE ACT, the largest retirement legislation that has been passed in decades—and there has never been a more important time to review your beneficiary forms.” Continue reading

“Depending on your family situation and the value of your estate, forming a trust can be an important addition to your farm transition plan.” Continue reading

“Depending on your family situation and the value of your estate, forming a trust can be an important addition to your farm transition plan.” Continue reading

“Few retirees have all of these documents that are crucial to their golden years — especially during a pandemic.” Continue reading

“Revocable trusts are a very popular and effective estate-planning tool. However, the trust will be ineffective, if you do not actually place your assets in the trust.” Continue reading

“A last will and testament is the foundation of an estate plan, which lets you plan for your estate after you’re gone. However, there are certain things that you might not want to put in your will.” Continue reading

“A growing number of seniors are facing challenges to achieving financial security in retirement. From rising healthcare costs to the economic turmoil caused by Covid-19, financial stressors are leading even those who thought they saved enough for retirement to look for ways to bolster their income and savings.” Continue reading

“Creating a will is one of the most basic elements of estate planning. There are different types of wills you can choose from, including a simple will.” Continue reading

“Gifting sounds pretty simple, but there are many ways to do it, and several tax ramifications to be aware of as well.” Continue reading