Avoiding Probate with a Trust
In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.
Estate Planning for Unmarried Couples
The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.
Fixing an Estate Plan Mistake
Sometimes, despite best intentions and best efforts, an estate plan leaves unintended problems for heirs, trustees and others to solve. For example, a trust may have become outdated because of changes in tax laws, the birth or death of family members, or special circumstances like an heir’s disability.
How Does a Bull Market Affect My Estate Plan?
2019 was a wild year in the market, but in the end the Dow ended up 23 percent year over year. The S&P 500 went up 29 percent over the year, and the Nasdaq climbed 36 percent. In fact, the market is up about 60 percent since Donald Trump was elected President of the United States. Those are some pretty impressive gains.
Will New Tool Help Dementia Patients and Their Doctors?
Long-term care providers could soon have access to a newly developed tool that can accurately predict the life expectancy of dementia patients.
Unintended Kiddie Tax Change Fixed in the SECURE Act
The kiddie tax was created long ago to prevent wealthy parents from cutting their taxes by transferring a large amount of investments to their dependent children, who would be taxed at a lower rate.
When Do I Need an Elder Law Attorney?
Elder law issues can be complex. One wrong word or move can mean the difference between a good result and disaster should you become incapacitated or if other unexpected issues should occur in your senior years. An elder law attorney can help you plan for what will happen, if you should become mentally or physically incapable of taking care of yourself and your own personal business matters.
What Important Dates Does a Retiree Need to Circle?
The start of a new year—and a new decade, to boot—is a great time to assess your financial situation and look ahead. You’ll want to consider moves for the long term, but it’s also critical to pay attention to the details in the short-term, so you don’t miss an important deadline.
Not a Billionaire? Trusts Can Still Be Beneficial
Even if your asset base doesn’t measure up to the Bill Gates standard, you may consider using trusts in estate planning. This is because they can help your heirs in many different ways.
Include Fido or Fluffy in Estate Planning
The best way to take precautions and ensure your pet will be well cared for, is by doing some estate planning.