First, before making a gift or bequest outright to your youngest son, consider whether now or in the future he will possibly be eligible for governmental assistance based on his disability and his own assets.
Losing a loved one can be difficult and overwhelming. The emotional toll is steep, and several time-consuming details need to be addressed. Even if the loved one left a detailed plan, it is not uncommon to miss a few things that must be handled.
When a loved one passes away, there are usually various arrangements that need to be made. One of the tasks to oversee will involve reporting the death to the Social Security Administration.
A proper estate plan will help those left navigate the disposition of assets and the probate court system, especially for unmarried couples and some married same-sex couples.
Trusts give parents of special-needs children additional options for extending care and financial assistance. However, you might need some expert help.
Reaching age 50 is a milestone that most of us celebrate. Still, after you’ve blown out the candles and bid farewell to your guests, you may have a headache from too much champagne, but otherwise feel the same as before.
Right now, gifts to trusts can take advantage of high tax exemptions and remove future appreciation of assets from taxable estates. One example available to spouses is making a gift to a trust that allows for a qualified terminable interest property (QTIP) election.
While discussing estate planning with my parents, they told me that an attorney prepared a deed for them but told them not to record it yet.
People tend to think of ‘529’ education-savings plans as an excellent way to save and invest tax-free for college or schooling costs, and they are.
Not all annuities are alike, and some may not be appropriate for you. How much do you know about these investment products?