Choosing an executor is not easy, but it is very important. A person who is not capable of managing the tasks can drive even the best estate plan off the path. Part of creating an estate plan is naming an executor who will be responsible for carrying out the wishes…
If a financial institution does not accept a properly prepared power of attorney, you will have to know your rights and be prepared to assert yourself. A power of attorney is an estate planning basic; however, more often than you would expect, people find themselves being told by financial institutions…
If you are old enough to drive, work a job and have a bank account, you need to have an estate plan. It’s part of being a responsible adult. Leaving adolescence behind means a life that includes responsibility for yourself and for those you love. That has traditionally included basics…
A lot of details go into being an executor, and some people find it a thankless task. But knowing that you helped someone you love carry out his or her last wishes holds its own reward. Most people are honored when they learn that they have been named executor of…
Houston Families who are faced with the often overwhelming financial, logistical and emotional challenges that come when a family member has special needs use these trusts to protect their child's quality of life. A young couple who wisely had an estate plan created while their children were very young returned…
The defined-benefit pension is a rare bird today. But if you are lucky enough to have one, don't assume that your distribution will go smoothly. Here's how to protect yourself. For millennials, the idea of a pension plan that pays benefits from the time you retire to the day you…
We never know what's around the corner. Big changes come in all different types. Best strategy: be prepared and deal with whatever comes. Of those Americans who actually have a will and an estate plan in place, there's still a tendency to let years go by before they update their…
If you don't believe any friends or family members can serve as your executor, what are your options? A question is raised by a well-to-do husband who is concerned that his wife is not prepared to handle a significant estate if he should predecease her. The couple has no children,…
Whether on the evening news or a serial drama, we love to watch the inner workings of family businesses—in large part because of the drama and the high likelihood of failure. The narrative of family dynasties is intriguing. According to the Yakima Herald in "Passing the baton: 6 challenges for…
The double nickel year has potential for allowing you to tap your 401(k) without an early withdrawal penalty, but you have to know exactly how it works to avoid problems. There's one exception to the rule that you must be at least 59 ½ to tap your 401(k) without incurring…