Category: Will
“What happens to all your digital accounts, services and property after you die? The official name for all these is a Digital Estate Plan. With the lines increasingly blurred between our on-and off-line lives, it’s more important than ever to have a plan for your digital holdings.” Just as you organize your physical possessions and […]
“The IRS determined that Prince’s estate is worth $163.2 million, well above the $82.3 million valuation submitted by Comerica Bank & Trust, the estate’s administrator.” The Internal Revenue Service has said the executors of Prince’s estate made a serious mistake in their calculations, reducing its value by about $80 million, as reported in the article […]
“If you haven’t reviewed your beneficiary designations recently, you may be setting your heirs and estate up for some unpleasant surprises.” It’s a simple question: do you know who your retirement account beneficiaries are? These tax-deferred accounts are complex, with significant tax implications for heirs that become more challenging if key information is missing on […]
“Drafting a last will and testament can help to ensure that your assets are distributed according to your wishes after you pass away. You can also use your will to name a legal guardian for minor children or choose an executor for your estate.” The executor of a last will and testament is the person […]
“State-by-state differences in matters around taxes, inheritance, marital property and more make a thorough review imperative.” In the excitement of a move from one state to another, people often forget that their estate plan may no longer be valid. That is because each state has its own laws about estate planning, according to a recent […]
“Choosing when to file for benefits is a critical decision that will affect your monthly retirement income for the rest of your life.” When it comes to planning for retirement finances, one of the most important decisions concerns when to claim Social Security benefits. There’s no one-size-fits-all answer to the ideal time, but there are […]
“A majority of retirees—53%—have a last will and testament. However, most lack six other crucial legal documents.” You might think that the coronavirus pandemic has caused everyone to get their estate planning documents in order, but the 20th annual Transamerica Retirement Survey of Retirees found that 30% of all retirees have nothing prepared—not even a […]
“A last will and testament is the foundation of an estate plan, which lets you plan for your estate after you’re gone. However, there are certain things that you might not want to put in your will.” A last will and testament is a straightforward estate planning tool used to determine the beneficiaries of your […]
“When something is tailored to one’s needs, everything can go smoother.” Just as a custom-tailored suit fits better than one off the rack, a custom-tailored estate plan works better for families. Making sure assets pass to the right person is more likely to occur when documents are created just for you, advises the article “Tailoring […]
“Holiday season is often a time when out-of-town children visit their parents for the first time in a while and notice that one of their parents has declined since they last saw them.” Covid-19 has made travelling more difficult, so holiday visits this year may not be the same triggering event they were in the […]
