Asset titling is the sticking point, where many estate plans fail. The best plan can be undone, if assets are not retitled or accounts are not funded. Retitling assets means just that—changing the name of the asset, whether it’s a deed to a home or a name of an insurance…
Remember to update your estate plan, especially if your life includes events like new kids, a new marriage or the death of a loved one. If you love your family, you’ll keep them in mind when considering whether to make an appointment to update your estate, as you go through…
The old adage is right—a second marriage is indeed the triumph of hope over experience. Add estate planning to keep that hope—and peace in the family—intact. It’s a delicate balance to hold: preserving assets for children from a first marriage and—at the same time—ensuring that your new spouse will have…
For many Americans, the majority of non-real estate assets are their retirement accounts and life insurance policies. However, a large number of people forget to update their designated beneficiaries, which can lead to key assets going to unintended beneficiaries. An unusual fact pattern cited here reminds us of the importance…
We say it over and over again. Check your beneficiary forms! Don't let your retirement funds go down the drain. Anything involving the court system is rarely quick and painless (probate anyone?). Fortunately, IRAs can easily be transferred to your loved ones outside of probate simply by completing a beneficiary…
If your beneficiaries are out-of-date, when you die, your assets could go [to] the wrong people – a former spouse, for example – no matter what your will says. Often, the biggest mistakes we can make when it comes to our estate planning are also some of the easiest to…
A will may say to divide an estate equally among three children. But if a particular account is titled to pass to just one, only that beneficiary will get the account. Your Last Will and Testament is the legal document to put your wishes in writing and get it all…