Posts Tagged ‘estateplanning’
5 Things to Do Now to Make Your Estate Simpler for Your Heirs: It’s easy to put off doing many of these things. But get them done, and your heirs will be thankful you did.
By Cheryl Winokur Munk No one likes to think about their own demise, but planning can make life after your death significantly easier for heirs. Here are five ways to help heirs avoid extra time, money, stress and acrimony after you pass: Keep documents updated Having a will or living trust is essential—but it isn’t…
Read MoreWelcoming a New Family Member This Year?: What every new parent and grandparent should know about wealth planning
Having a child or grandchild is a joyful milestone, but it also marks a new era of responsibility – especially when it comes to your family’s long-term financial wellbeing. If you’re a new parent or grandparent, now is the time to confront the “what if” questions that may have seemed remote before. What would happen…
Read More5 Things to Do Now to Make Your Estate Simpler for Your Heirs
By Cheryl Winokur Munk No one likes to think about their own demise, but planning can make life after your death significantly easier for heirs. Here are five ways to help heirs avoid extra time, money, stress and acrimony after you pass: Keep documents updated Having a will or living trust is essential—but it isn’t…
Read MoreThinking About Naming a Trust as a Beneficiary? Know the nuances to ensure that your plan aligns with your financial goals
A critical part of estate planning is deciding how to distribute your retirement assets, such as IRAs or 401(k)s. One option is to name a trust as the beneficiary of these accounts, which can offer benefits in terms of control and protection. However, this decision also comes with potential tax implications and administrative complexities. It’s…
Read MoreIndividual vs. Joint Trust: Which Do You Need? Make sure your estate plan reflects your wishes and provides protection
Creating an estate plan is a vital step in securing your financial legacy, and if you’re doing it for the first time with a spouse or partner, you’ll quickly face an important decision: Should you set up a Joint Revocable Trust or create separate Individual Revocable Trusts? Understanding the difference between the two can be…
Read MoreFamous Estate Planning Blunders
By Elaine Floyd, CFP ® Celebrities have enough money to hire the best estate planning lawyers. You would think celebrities, of all people, should have ironclad estate plans that keep their affairs private, leave money and possessions to the people they love and the charities they care about, and take advantage of legal ways to avoid…
Read MoreThe Unique Advantages of Special Needs Trusts: A vital solution for your loved ones without jeopardizing their public benefits
A Special Needs Trust (SNT) is a crucial financial tool designed to benefit individuals who rely on needs-based public assistance. These trusts enable beneficiaries to maintain their eligibility for public benefits while receiving additional financial support from an inheritance. For clients with dependents or loved ones who receive public benefits, an SNT can offer peace…
Read MoreWarren Buffett Gives Us a Preview of His Will
By Karen Langley (WSJ) Warren Buffett has refined his plans for giving away one of the great fortunes of the modern era. In an interview with The Wall Street Journal, Buffett—the chairman and chief executive of Berkshire Hathaway BRK.B -0.42%decrease; red down pointing triangle—said that after his death nearly all of his remaining wealth will go to a new…
Read MoreA Qualified Terminable Interest Property Trust: A useful tool in your estate planning toolbox that you might not know about
A Qualified Terminable Interest Property (QTIP) trust is a specialized, irrevocable trust designed to provide for a surviving spouse while maintaining control over the ultimate distribution of assets. Commonly used in comprehensive estate planning, a QTIP trust allows an individual to ensure their spouse is financially supported while guaranteeing that the assets eventually pass to…
Read MoreNo Matter Who Becomes President, Start to Plan: Tips for how to start your estate planning process today – for your future
Many people postpone the planning of their estates because they assume that estate planning is only for the affluent. Others may think that estate planning is similar to tax planning, which can always be done “later.” In some cases, estate planning may be put on the back burner because it is a reminder of one’s…
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