When is the last time you updated your will? Could your beneficiaries have changed? If you have a trust, did you actually fund it? Is your plan ready for the new SECURE Act? Here are five mistakes you don't want to make.
The reality of COVID-19 has forced many individuals to address the ‘what if’ scenarios that were previously unthinkable, or at least the situations that no one ever wants to talk about or deal with.
Instead, they placed the items in a charitable remainder trust, received a tax deduction for part of the value, received income from the trust and then gave a sum to a charity of their choice.
The recent decline in asset values may make gifting a more attractive estate planning technique for many individuals, especially if you are considering gifts of stock or other non-cash assets.
I am my late brother’s sole beneficiary on various investments held at different investment companies. I would like to divide the assets equally among three relatives.
Does your ability to pass on your wealth to your heirs depend on where you live ... and die? Indeed, it does.
When a loved one is experiencing cognitive decline, emotional and medical considerations often overshadow the financial planning that needs to happen. This is a potentially costly mistake.
Estate planning offers tools to establish and maintain effective control over cash, investments and real estate assets during a person's lifetime and upon death. While wills and beneficiary designations work well to ensure that an estate plan meets the unique needs of the individual establishing the plan, each has its limits.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
How much you will pay in taxes on an individual retirement account (IRA) withdrawal, depends on the type of IRA, your age and the purpose of the withdrawal. Sometimes the answer is zero—you owe no taxes. In other cases, you owe income tax on the money you withdraw and sometimes an additional penalty if you withdraw funds before age 59½. On the other hand, after a certain age, you may be required to withdraw money and pay taxes on it.
