Our Estate Planning Blog
While it is an honor to be selected as an executor, executing a will takes more work than you might think.
Probate is not always an efficient process. However, it is the way to properly dispose of an individual’s property after they have died. It gives the necessary stamp of approval that the will is legitimate, and the executor has been confirmed.
Let’s face it: mortality is hard to think about and death is impossible to plan for. What is doable, however, is getting affairs and assets in order to prevent loved ones from inheriting a headache and legal fees in the event of an incident.
When you set up an IRA with a brokerage, you’ll usually be asked to designate a beneficiary. This is where you would enter the trust as your beneficiary, should that be the option you choose.
Easier-to-read form highlights retirement income streams and other tax benefits for citizens 65 and older.
You make things easier for the children, by planning for the possibility of a nursing home stay because you take the burden off the children to make crisis decisions for your long-term care costs.
Anyone with a child with special needs understands the need to prepare for the future. A trust is always a good place to start, and figuring out a savings goal for that trust is a key part to your planning.
You might be amazed at some of the bizarre places that people put their documents. It would take you a month of Sundays to find the papers if the person had not told you where to look.
Life insurance can offer income and saving options for the long term.
Some things don’t disappear even when you die, including credit card debt.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
