Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. It is the responsibility of each retiree to take out the correct RMD from their retirement account each year.

If you wish to maintain control, during your lifetime, over the assets you place in a trust, you may choose to establish a revocable, or “living” trust – most likely, along with a pour over will.

Powers of attorney that only allow an agent to do certain things are commonly referred to as a limited power of attorney.

Arranging what happens to your digital assets and information when you pass away has become an increasingly essential component of comprehensive estate planning.

The basic idea behind a QPRT is to transfer the equity in a qualified residence out of a person’s estate and to their heirs while reaping lower transfer tax consequences.

Choosing an executor is a big decision when it comes to estate planning. Here are three common questions about executors.

Many power of attorney forms allow for a variety of options in designating who may act as your agent. Depending on the rules of your state, this can be one person or more than one person.

Powers of attorney can be overridden. However, the “who” and “how” depends on whether the principal is of sound mind.

If you are preparing a will, it is important to choose an executor you can trust, who is reliable, and who will take their role seriously. As part of your decision-making, you may also consider the things they would be prohibited from doing.