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.
Dying intestate can have unintended consequences for pretty much every family type. However, it is especially painful if there are unmarried partners or stepchildren, who are left out under the law in almost every scenario.
Like most assets, you can inherit an individual retirement account (IRA) after the owner’s death. For spouses, inheriting an IRA is a relatively straightforward process.
When you’re in the midst of a divorce, you’re probably not thinking about estate planning or your will. However, if you’re divorcing, you should think about the impact a divorce can have on an estate plan.
Aging solo is about those individuals who are widowed or not married, live alone and have no family or none they can count on. They are going through the last years of their lives on their own. It can be just fine until one’s health declines and the usual activities and access to friends get out of reach.
While many people think that estate planning is only for the wealthy, experts say that’s not the case.
People approaching retirement ponder numerous questions. However, I’ve found that many of the most important questions revolve around the word ‘when.’
Retirees should secure themselves first, and if you’re all set there, then consider a few other things, such as the impact on the children and tax issues.
The first SECURE Act extended the beginning date for taking required minimum distributions from the year after the account owner reaches age 70½ until they reach age 72. Just three years later, ‘SECURE Act 2.0’ has extended this age to 73, and offers a further provision for extending it again, to age 75, beginning in 2033.
If you have a child or grandchild with disabilities, one of your biggest worries is what will happen when you are no longer around to provide aid.
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