Is Probate Required If There Is a Surviving Spouse?
A common misconception is that you do not have to probate a will when your spouse dies.
Should a Husband and Wife have Separate Trusts?
In situations where both spouses want the surviving spouse to inherit all the assets, which is often the case, a joint trust can be far less complicated to set up and maintain than separate trusts, with less headaches for the surviving spouse.
How Does Probate affect Real Estate Transactions?
Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?
How Do You Stop Family Fights Over an Inheritance?
After a loved one passes, one of the biggest hurdles families face is passing wealth onto the next generation. Unfortunately, family dynamics can spur conflict and infighting among descendants.
Homeownership and Medicaid Can Be Problem
Many people work hard to acquire real estate and then later find that that real estate makes them ineligible for Medicaid to help pay for nursing home or in-home, long-term care.
Special Needs Plans Need Regular Reviews to Protect Loved Ones
Estate planning generally focuses primarily on lifetime protection and post-death distribution of assets. Special needs planning focuses primarily on the individual beneficiary’s lifestyle and care needs.
The Biggest Mistake in Trusts: Funding
Your real estate holdings, life insurance, bank accounts and retirement savings won’t magically flow into your trust.
Stretch Out IRA Distributions, Even Without ‘Stretch’ IRA
The SECURE Act killed the stretch IRA but instead of mourning, advisors can help clients make up the loss.
How Do Joint Accounts and Beneficiary Designations Work in Estate Planning?
Remember that a will goes through probate, so a husband and wife typically try to avoid it by using joint ownership or beneficiary designations. However, they’re often mistaken by believing the will still controls their estate.
Preparing for the Impact of Alzheimer’s Disease
It is estimated that by 2040, the number of Americans living with Alzheimer’s, dementia or other cognitive disorders is expected to double to close to 12 million due to the aging population, according to a recent study by RBC Wealth Management and Aon.