Posts Tagged ‘estate planning’
7 Estate Planning Topics to Discuss with the Family over Thanksgiving Dinner
One of the more difficult conversations for family members to have is talking about estate planning. There are several reasons for this, including the reality of our own mortality and that of our loved ones. In some families, it is an unspoken taboo to talk about money. Many parents don’t want their children to know…
Read MoreLeaving the Wrong Beneficiary on Your IRA Plan Can Be a Costly Mistake: Many savers pay little attention to retirement-account beneficiaries
By: Laura Saunders Do yourself a favor: Check the heirs named on your IRA or 401(k) retirement plans. Then check your parents’ accounts. A lot is riding on these designations, and it’s easy for life to outrun planning in this area. Has there been a death, a new grandchild or other key change? Beneficiary forms…
Read More5 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 MoreWhat to Know Between an LLC and a Living Trust : The right structure isn’t just a legal necessity, it shapes your financial legacy
When it comes to safeguarding business assets and planning an estate, investors often find themselves at a crossroads: Should I form a Limited Liability Company (LLC), establish a Living Trust, or use both? While each serves a distinct purpose, together they can create a robust framework for asset protection and legacy planning. As a financial…
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 MoreUnderstanding Succession and Legacy Planning: How to begin securing your family’s future with a strong, flexible foundation
Succession and legacy planning goes beyond drafting a will; it involves creating a strategic framework for transferring your wealth, values, and responsibilities to the next generation or chosen beneficiaries. As you accumulate assets or approach later stages of life, it becomes increasingly important to ensure that your estate is managed and distributed according to your…
Read MoreThe Top Ten Common Estate Planning Mistakes: Avoiding these common mistakes can spare your family unnecessary stress
Estate planning is essential for anyone who wants their assets and possessions to be passed along smoothly to their chosen heirs. Beyond money, it’s about ensuring your wishes are clear and your loved ones are spared the added burdens of legal disputes or financial hardships after you’re gone. Here are some of the most common…
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 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…
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