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.
If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.
If you’re set to inherit, you may be wondering what estate expenses are paid by the beneficiary. The answer can depend on what assets are passed on to you when a family member or loved one passes away.
One of the essential steps in the probate process is filing an inventory of all the assets that are part of the estate.
The main responsibility of an executor of a will is to carry out the final wishes of the person who bestowed that position of trust.
Will there be changes in your circumstances or your family that should lead to a review of your plan? Could some events cause you to need to revise or update the plan?
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