Tag: Estate Planning
A family often needs available cash assets when the breadwinner passes away but life insurance can create a problem. While life insurance can often be the answer for a family in need of cash assets because it pays out immediately, that solution may not be the right answer, according to Forbes in “3 Considerations for […]
New York prevents services from charging fee to estates. The state of New York has passed a law that protects estates from termination fee charges, according to a Fox 5 report “NY: Utilities can’t charge termination fees after death.” If you do not live in New York State, your estate might face termination fees for […]
The benefits of having an estate plan in place should be obvious but National Estate Planning Awareness Week could be the perfect time to learn why. The Wills, Trusts & Estates Prof Blog reports that National Estate Planning Awareness Week may be the appropriate time for you to learn about the estate planning process in […]
Elder law experts urge seniors to plan carefully when considering matrimony. Senior citizens are just as likely as young people to get married without thinking everything through and that can create consequences, according to the Hartford Courant article “Fit To Be Tied? Think Twice About Marriage In Your Golden Years.” Senior citizens considering getting married […]
There are a lot of legal documents and it may be wise to learn a bit about them. The Ventura County Star recently published a list of basic estate planning documents that could help you better understand the lingo when meeting with an attorney in “Get to know estate planning documents.” The documents included are: […]
More Americans than ever are amassing fortunes but how do you pass on wealth to heirs? There are more families with wealth that surpass $5 million today which increases the need for information on the best way to pass on that wealth to the children, according to Barron’s report “Penta Millionaires: The New Rising Class.” […]
Trusts are sometimes difficult to understand but acquiring that knowledge can be very beneficial. When a person learns they may need to set up a trust, the terminology can be challenging but there are some common trust types as the Motley Fool recently discussed in “Navigating the World of Trust Funds: Your Quick Guide.” The […]
If you avoid basic estate planning mistakes, you have a better chance of making sure your estate goes to the right people. Mistakes may happen even when people put in their most diligent efforts to avoid them. On the other hand, there are some estate planning mistakes that are easily avoidable. CNBC recently wrote about […]
There are many options when estate planning and a revocable living trust may or may not be a good option for you. The Motley Fool recently discussed the benefits and drawbacks of revocable living trusts in “Is a Revocable Living Trust Right for You?“. The biggest benefit of a revocable living trust is that your […]
When it comes to estate planning, a “simple will” is often the starting point for many. But it’s important to understand that a simple will can cover basic needs but may not be right for everyone especially those with more complex situations. As noted in a recent article from The Courier-Journal, “Thank You and Simple […]
