We are programmed to contribute the “max” to our retirement accounts and we disregard, or do not understand, the pitfalls of an improperly filled-out beneficiary forms.
The form of ownership is a key factor in structuring an estate plan. This is true primarily because the form of ownership governs the transferability of the interests.
In the absence of a durable power of attorney, who has the right to sign for an incapacitated person?
You should go to an estate planning attorney to sort things out and make sure both of you are on the same page about who owns what, who gets to stay where and for how long into the future.
A probate lawyer can provide a variety of services to you, if you’re struggling to deal with matters related to your loved one’s estate.
You’ve probably seen it in the movies or on TV hundreds of times: A close-knit family gathers for the reading of the will of a wealthy patriarch or matriarch. When the terms are revealed, someone benefits at the expense of someone else, causing a ruckus. It may even come to blows.
What’s going to happen to your assets after you die? Your parents die? Your spouse dies? It’s a conversation that’s uncomfortable to have, but one that’s extremely important.
Let’s face it, when it comes to storing important financial documents, a shoe box under your bed doesn’t really cut it.
Thanks to changes in the 2017 tax law, 529 college-savings plans are being used as estate planning tools and to pay for more education-related expenses than ever before, according to InvestmentNews.
If elderly parents aren’t good at record-keeping, a family member will need to identify this information and keep it in a place where it can be referenced when needed.
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