Many companies are hurting because of the economic turmoil from the coronavirus, and if you’re 50 and older, and your employer needs to cut costs, they may be looking at cutting you from the payroll.
Regardless of the pandemic, experts say it’s important to plan for when you’re not here—that is, give thought to what would happen to your bank accounts, your home and your belongings, as well as, perhaps, your dependents.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.
Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
Most people become eligible for Medicare during the months around their 65th birthday. If you don’t sign up for Medicare during this initial enrollment period, you could be charged a late enrollment penalty, for as long as you have Medicare.
Bitcoin has gone in value from less than one cent in 2010 to a high of $20,000 in 2017, to a value at the end of July 2020 of nearly $11,000. Now the U.S. Congress is holding hearings on the digitization of the dollar, so cryptocurrency has become an increasingly important financial tool for individuals and businesses.
The coronavirus pandemic has certainly caused havoc and concern for many people, particularly in regard to their health and their finances — and these two areas intersect in estate planning. So, if you haven’t drawn up your estate plans yet, or you think they may need to be revised, now may be a good time to act.”
A trust is often only as good the trustee in charge of it. Read on, as we examine the important role of the trustee and discover how to make sure yours is acting correctly, especially with complex instruments like insurance.
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