You spend a lifetime building your business, so it’s crucial to have a game plan when it’s time to leave. Being prepared will help optimize the transition from a financial and tax perspective.
It may sound like it makes sense, and it might be easier than picking a person (or two) to name, however there are some serious downsides to naming your estate as the beneficiary for your IRA.
A critical item is often missing from back-to-school college checklists — and it could be far more valuable than anything else your student takes to school this fall: signed legal documents.
The way in which assets are titled can be vital.
Wills often go through probate, which is the legal process for settling an estate. The rules are different for every state, so check with an attorney or your local county office to learn more.
These days it’s easy to feel overwhelmed by many things such as politics, gas prices, the gyrating stock market, summer travel, heatwaves and your health. One thing that shouldn’t overwhelm you is estate planning.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
A testamentary trust can control your assets after death. However, there may be a better option available, experts say.
The IRS issued a revenue procedure (Rev. Proc. 2022-32) Friday that allows estates to elect ‘portability’ of a deceased spousal unused exclusion (DSUE) amount as much as five years after the decedent’s date of death.
