The saying goes that anyone who does not learn from mistakes in the past, is doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.
Using the equity in your residence is a method many people use to raise cash. There are several methods that a homeowner may use to tap into this income vein, but some may be better suited than others. One popular option—that often fills the airwaves with commercials—is the reverse mortgage. However, while popular, this may not be the best choice for many homeowners.
Estate planning is not just about saving taxes, it is also about managing and protecting your assets against future creditors, both for you and for your beneficiaries.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
While some celebrities have mustered up a fortune of their own – whether it be through their acting careers or foray into creating signature perfumes – some of Hollywood’s biggest names are actually the heiresses to even bigger players in the entertainment world and beyond.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
I have settled my mother’s estate and sent the final accounting paperwork to my three siblings. Two have signed off on the bond paperwork but my one brother is nitpicking the statements, asking for invoices for the lawyer, the CPA, etc. Can I send the other two their share of the inheritance or do I need to wait until everyone signs off?
By discussing finances with your children early and often, you can set them—and future generations—up for success, when it’s time to receive the wealth you’ve accrued.
Medicare has a series of income limits that trigger increasingly higher payments for retirees. And it’s not just the rich who are affected.
Kenny Rogers didn’t write a lot of his greatest hits. His heirs get a little cash, when any of his recordings are played or purchased online, but that’s just a trickle of income.