The word “estate” has always been connected to “ultra-rich” families, those with a lot to leave behind after their death. However, definitions have changed, and anyone who has anything to leave behind needs to plan their estate. “Estate planning” essentially becomes your family’s guidebook, once you are no longer in the picture. Sounds important? Definitely, and here’s why.
Is it better to help your children when you’re still alive? Or wait until after you die?
Pink’s COVID-19 battle left her fearing for her life. During a conversation on Mark Wright’s Heart radio show, the 41-year-old singer revealed that she went so far as to rewrite her will, when she was ill last year.
With the threat of COVID-19, we’ve all come face-to-face with our mortality, but are you prepared for the worst?
No one can predict the future—and navigating that reality is precisely what makes estate planning so complicated.
When someone passes away, their tax headaches don’t die with them. In fact, those obligations can further complicate the lives of survivors: Federal estate taxes may be due and state inheritance taxes could also come into play.
How can we avoid probate and reduce the estate tax for our beneficiaries, who are our two adult children?
Retirement is an exciting milestone. Planning becomes even more crucial, once you get within a few years of saying goodbye to your career. As we turn 60 and inch closer to retirement, there are important questions to answer.
Putting your last wishes on paper is critical to ensuring your family is taken care of when you die.
So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.