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.
Utilization of a testamentary trust for the surviving spouse is an excellent idea, whether the survivor is the husband or wife.
Is it time you made a decision on the future of the wonderful getaway that everybody loves but only you maintain?
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.
Now you can actually have a voice in who is chosen, but you need to do it while you have capacity.
Survivorship periods don’t usually surpass 60 days. If this period surpasses 120 days, it could put the tax-free estate transfer of assets to a surviving spouse at risk.
A will and a living trust are both part of a comprehensive estate plan, that sometimes are inconsistent with one another. When there are conflicts, the trust takes precedence.
For many older adults, claiming Social Security early would be a big mistake. It was a mistake made by many older workers, who lost jobs in the Great Recession.
The proliferation of digital footprints in our online communities raise demand for consumer tools and options for dealing with digital assets upon incapacity and death.
The value of long-term care insurance (LTCI) is an ongoing conundrum. There’s no doubt we’re living longer. According to LongTermCare.gov, a site provided by the U.S. Department of Health and Human Services, at least 70 percent of people 65 and older will need long-term care services and support at some time in their lives.
