Does a TOD Supersede a Trust?
Both help you pass down assets, while avoiding the time and expense of probate. However, one has much more flexibility than the other.
January 6, 2022
How Much Is the Required Minimum Distribution from Retirement Accounts?
Americans are living longer than they were a generation ago, and the government knows it. Starting in 2022, that will be reflected in the amount of money you have to draw from retirement accounts at different ages.
January 5, 2022
Why Naming Beneficiaries Is Important to Your Estate Plan
If you’ve ever spent time working through your estate plan, you know how important it is to select and update your beneficiaries.
January 4, 2022
Can I Claim Grandfather’s Unclaimed Insurance Policy?
Insurance claims can be made at any time, even years after the death of the policy holder.
January 3, 2022
TOD and POD Accounts: What’s the Difference?
A TOD account allows the account holder to name a beneficiary on a non-retirement financial account to receive assets at the time of the account holder’s death, thereby (generally – i.e., when used correctly) avoiding probate.
December 31, 2021
Can I Restructure Assets to Qualify for Medicaid?
Several types of special income trusts and other strategies can be helpful, when trying to protect your family’s assets from the devastating costs of long-term care.
December 30, 2021
Is It Necessary to have a Medical Power of Attorney?
Selecting medical powers of attorney is an important step that aging parents should take to ensure they get the care they want if they are unable to advocate for themselves.
December 29, 2021
Any Ideas How to Pay for Long-Term Care?
The costs of long-term care for older adults can be significant. Federal Medicare health insurance benefits do not cover most of these costs. Most people who incur costs for long-term care cover them with a combination of personal savings, long-term care insurance and Medicaid, among other sources.
December 28, 2021
How Do You Gift Your House to Your Children during Your Lifetime?
There are many ways to pass property on to children, including gifting the family home to them while you are still alive, bequeathing it to the children upon your passing, or selling the residence to your heirs.
December 27, 2021
How Important Is an Estate Plan?
Every individual needs some form of an estate plan to protect their wishes and loved ones. Your estate consists of everything that you own (aka your assets), and although death may seem far away, it is never too soon to get your estate plan in order.
December 24, 2021