Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset, if the account owner dies. However, these forms can create confusion, unintended bequests and family turmoil, if not adequately monitored.
Coupled with the upcoming presidential election, small to mid-sized business owners are faced with a slew of financial decisions that could impact the wealth of their business and the legacy they leave to their successors.
One of the most fundamental choices you can make as you’re thinking about how to pass your assets on to heirs, is whether you hold assets in a revocable trust or more simply give them via a will. Both approaches have advantages, although trusts can provide significantly more benefits.
Many people draft personal notes to their loved ones and their successors. However, few take the time to pen a thoughtful letter to their executor to help guide their decisions in the future.
I am my late brother’s sole beneficiary on various investments held at different investment companies. I would like to divide the assets equally among three relatives.
The recent decline in asset values may make gifting a more attractive estate planning technique for many individuals, especially if you are considering gifts of stock or other non-cash assets.
Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does.
Estate planning attorneys are getting mobbed with questions. Here is some timely advice from three attorneys on what families and business owners should be doing to prepare, in case the unimaginable happens.
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
The basic steps involved in revoking a revocable trust are fairly simple and include the transfer of assets and an official document of dissolution.
