It takes a special parent to care for a child with special needs. These parents’ greatest financial concern is typically ensuring that their children are cared for when they can no longer do so.
Major changes in your life—such as marriage, having a baby, moving out of state, or divorce—should prompt a revisit to your current will. It is important to revise your will at these times, in order to ensure your estate planning is up to date.
Locking up certain important documents and valuables in a bank vault could turn into a headache for you or your heirs.
Inheriting an IRA from a parent has a unique set of rules you need to know, which will help you make the most of the money you inherit and avoid a tax-time surprise.
Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical records, artwork and even our social lives online or ‘in the cloud.’
For larger estates, a revocable trust is generally the most effective tool for avoiding probate. It involves some setup costs. However, it allows you to manage the disposition of all of your wealth in one document, while retaining control and reserving the right to modify your plan.
Britney Spears’ terrible, heartbreaking conservatorship seems almost surreal. How can someone with so much success and wealth find herself in such a position? Could what happened to Britney happen to you or me?
As you’re making your estate plan, you’ll want to carefully consider everything. This means it may take a while to complete your plan. Here are five things to watch out for along the way.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
A power of attorney is an important document. It is, nevertheless, frequently disregarded in estate planning. People usually concentrate their efforts on their wills and trusts, naming a power of attorney at the last minute.
