If you are married and do not have kids, you might think that you do not need to make an estate plan. However, if you do not create one, the state law governs distribution of your assets. If however, you want to leave your estate to family, friends, or charity, you need a written estate… Continue Reading
Category Archives: Estate Planning
Update Your Beneficiaries After Major Life Changes
It is easy to forget about changing your beneficiaries for retirement plans, investment accounts, insurance policies and your IRA, but if you have recently gotten divorced or remarried or had a death in the family, it is important to update these designations. Your spouse is the primary beneficiary of your 401(k), unless they sign a… Continue Reading
Estate Planning And the Impact of Rising Interest Rates
Today interest rates are still quite low, but the Federal Reserve just hiked rates for the first time since the financial meltdown of 2008. Interest rate increases impact estate plans in a number of ways. With low interest rates, intra-family loans are very advantageous because the total amount of interest to be repaid is less.… Continue Reading
Solutions to Inheritance Issues
Inheritance decisions can cause tension between family members and headaches for professionals working with the families. A few things can be done to address the issues before they arise. First, create a Will so that the distribution of your assets is clear and cannot be argued over. This way your property will be transferred based… Continue Reading
Married With(out) Children: Planning Ahead
It is important to have an estate plan that reflects one’s wishes in case of death or illness, especially for married couples with or without children. Many married couples without children need to decide who they want to leave assets to and who they trust to make their medical and financial decisions in case they… Continue Reading