As retirement nears, you may be wondering when to start taking Social Security payments. These benefits are primarily based on your earnings during your working years and your age when you start receiving benefits.
Although laws vary from state to state, every state requires that less restrictive alternatives be considered before invoking a guardianship. These might include such vehicles as limited guardianships, powers of attorney or assisted decision-making agreements.
A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust’s assets are split up after the surviving spouse dies.
People with children who cannot support themselves need to think well past their own lifetime and figure out how to provide for children after they are gone.
The important thing to acknowledge is that the emotions behind the reasons are not trivial, but are important and should not be dismissed or minimized.
A living will is a legal document expressing your wishes on receiving or declining medical care or life-sustaining treatments should you become terminally ill or injured and unable to communicate those decisions for yourself.
Estate planning is not just for the wealthy. Anyone with a bank account, house, car or other personal property should have a will.
What types of decisions have you and your loved ones made, or avoided making, about planning for the years ahead?
When someone dies with money left in an Individual Retirement Account (IRA), the funds can get passed on to the person’s loved ones through an inherited IRA.
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
