What Do I Need to Know about Creating a Will?
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.
Will I Get A Bill as My Inheritance?
Debts, just like assets, are considered part of a person’s estate. When that person passes away, their estate is responsible for paying any and all remaining debts. The money to pay those debts comes from the asset side of the estate.
How Much Should We Tell the Children about the Estate Plan?
Even those with thorough estate plans might have neglected to discuss details with potential heirs.
What Do I Need to Know about Gift-Giving with the Biden Administration?
Gifting sounds pretty simple, but there are many ways to do it, and several tax ramifications to be aware of as well.
What Should I Know about a Living Trust?
A living trust is an estate planning legal document that contains your instructions and authorization for what you want to happen to your assets, when you become disabled or pass away.
What Happens If You Fail to Submit a Change of Beneficiary Form?
The financial institution is obligated to distribute the CD to the person or entities that otherwise would be entitled to receive it.
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.
No Time Like the Present Pandemic to Get the Estate Plan Going
There’s nothing like a once-in-a-lifetime global pandemic to focus one’s thinking. This year has been one for the books.
What Key Estate Planning Terms Should I Know?
Estate planning is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do.
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.