A Living Trust is an excellent estate planning option for many people. The idea of being able to immediately transfer assets at death without probating the estate is a huge advantage for many. However, like so many things these days, “One size does not fit all”. The same can be said for “cookie cutter”...Read More
The data according to Caring.com shows that “a majority of people believe estate planning is important, but a low number of people actually have documents in place which likely indicates a lack of education and familiarity with the process.” Even more startling, according to the survey, is that “in 2017, almost half (42%) of all...Read More
Doing nothing may be disastrous according to your state’s intestacy laws. See what may happen if you are married and have children from a prior relationship, or if you die and had an unmarried partner. https://www.marketwatch.com/story/you-need-to-make-a-will-now-more-than-ever-2020-04-23Read More
Oh my, how things can change in a matter of a few days. Only a few weeks ago, the Coronavirus or Covid-19 seemed like a problem for China and Italy. Never in a million years did any of us think it would have such a dramatic effect on our day to day lives. We’ve gone...Read More
A beneficiary is the person or persons designated to receive the benefit of any life insurance, IRA, Annuity or 401k Plan when you die. Seemingly straightforward, however, there are several mistakes people make when making these designations. For most, the designations where set up years, if not decades ago and some likely can’t remember who...Read More
Father Time is Undefeated The death of Kobe Bryant is a real shock. Someone who seemingly had everything and was entering the prime of his life is now gone in an instant. The media showed countless pictures of him and his family. Kobe seemed to be a great father and husband. He also seemed to...Read More
In this segment, I talk about estate planning, why it is important for women to be involved in the planning process, the top reason why a plan would fail, why you want to pay a professional, and the SECURE Act.Read More
“Both spouses need to know basic things about family finances, no matter who handles bills or long-term investing. That means looking over tax returns, knowing about the bank accounts, keeping tabs on everyone’s retirement balance and making joint decisions about big financial moves like buying a house.” I would also add estate planning, women especially....Read More
In regard to estate planning and IRA’s, this is a game-changer as non-spousal beneficiaries will need to spend down the inherited amount within 10 years instead of over their respective lifetimes. If you have IRA’s that flow into a retirement benefits trust or a retirement benefits trust contained within a revocable or testamentary trust, these...Read More
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