When was the last time you updated, or even thought about, the beneficiary designations listed on your retirement accounts, life insurance, or annuity contracts? If you don’t remember, it’s time for a review!
In an effort to keep taxpayers from transferring wealth from one generation to the next tax-free, there are specific limits to the amount of gifts one may give to any one person each year.
Unless you’re a member of the Addams family, thinking about death probably isn’t your favorite afternoon activity. However, not thinking about it can cause even more pain when death ultimately does come knocking.
A life estate is a form of property ownership that splits control and ownership of a property. The person who creates the life estate for their home and assets is known as the life tenant. Though the tenant retains control of the property, they share ownership during their lifetime with the remainderman, a legal term referring to the estate’s heir.
One common question executors may have to deal with is how to transfer a car title after the owner dies.
There is a popular misperception among many seniors that in order to protect their assets from creditors, including the cost of nursing home care, they should consider gifting their assets to their children.
There is a general consensus that having a last will and testament is important. However, few people realize the necessity of having medical documents in place.
One major misconception is we simply can tell loved ones what we want to happen for the purposes of health or property distribution and family members can ensure that those wishes are followed.
A power of attorney is a legal document that gives a person the authority to act on another’s behalf.
Today, much of our lives is digital, and many things we hold dear are not physical. However, what happens to our digital assets when we die? That’s where digital estate planning comes in.
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