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.
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.
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.
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.
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.
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.
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.
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.
Is It Too Late for a Family Meeting to Discuss Money?
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
Do Grandchildren Get the Inheritance If Their Dad Dies before Me?
What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult children dies before the parents, who gets that contingent beneficiary’s share?