Trust distributions might be taxable, with the tax liability potentially varying based on factors, such as the type of trust, the kind of distributions and a beneficiary’s tax bracket.
However, settling the second spouse’s affairs was more complex, even with advance planning. Everything from wills to banking to tax returns became more complicated.
While we all hope to age gracefully, we need to prepare for the potential risks of aging as it relates to investing and financial wellbeing.
From Bitcoin to Gmail accounts, the rules governing ownership, storage and transferability of digital assets differ significantly from traditional forms of wealth.
Mick Jagger is getting candid about the Rolling Stones’ legacy.
If you’re thinking hard about your Social Security claiming strategy, there may be one aspect you’ve overlooked. If you’re divorced, you may be able to receive Social Security benefits based on your ex-spouse’s work record.
Lisa Marie Presley’s estate—previously at the center of a high-profile family dispute between actor Riley Keough and her grandmother Priscilla Presley—is the subject of another legal filing, this time over an alleged unpaid loan of $3.8 million. Keough became the sole trustee of her late mother’s estate less than two months ago.
Estate planning involves both trust funds and wills to help ensure the smooth transition of assets to your beneficiaries.
Power of Attorney documents are often an afterthought when someone thinks about their estate plan.
Somewhere along the way, homeowners came to believe a non sequitur of sorts, that the “American Dream” includes not only buying a house but also passing that same home on to their children. Financial advisers have largely supported this tactic for passing along generational wealth.
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