Statistically speaking, women live longer and earn less than men. That makes financial and retirement planning far more important for women. It’s not pleasant to contemplate, but because women often take time out from their careers to raise children or take care of elderly parents and still earn less than…
Most life insurance companies are quite efficient. However, you will need the right documents. One of the basic tasks that follow the loss of a spouse or family member is figuring out what life insurance policies were in place and contacting the insurance company or companies to find out how…
Unless you really want to give your ex the proceeds of your life insurance or 401(k), it is best to take the time to do this one task. If you haven’t looked at the paperwork for your life insurance policies, bank accounts, retirement accounts, investment accounts and any other asset…
Here is a helpful checklist of the top ten ways to keep your estate plan current. Review your existing Will and any trust agreements. Over the course of a year our personal and our professional lives can change dramatically. Tax laws and regulations are also subject to change as new…
Some states are cheaper to die in than others, that is, when it comes to death taxes. The average American doesn’t have to worry too much about paying a federal estate tax, as the current federal estate tax exemption is a generous $5.49 million for 2017 and twice that if…
Legal battles that lasted longer than the marriage, continue to plague the daughter of a real estate investor. A court action brought by a young woman, whose mother devoted nine years to gaining control of her trust fund, is now trying to free herself from her mother’s financial grip. Her…
Now that many members of the millennial generation are parents, it’s time for them to protect their families with estate plans, including naming guardians for their minor children. Yes, that generation is growing up! The numbers are pretty extreme. A recent study by caring.com reveals that 88% of 18–36 year-old…
New Year’s Eve is the deadline for taking RMDs if you are older than 70 ½. Haven’t started yet? Get on this right away to get it done in time. Otherwise, be prepared to pay a penalty. You still have a little time to beat the last minute rush on…
Estate planning for entrepreneurs is not complete until it includes a succession plan. Individuals who create successful businesses often find it hard to consider handing over the reins. Entrepreneurs would not succeed without their ability to focus all of their energies on their business. It is not easy for this…
Many people put off doing their wills because of the difficulty of deciding on a guardian for their minor children. But if choosing one is difficult, choosing two might actually make the process easier. This is the situation no one wants to even think about: both parents dying unexpectedly and…