Retirement Accounts and Estate Plans
Often, people fail to consider how to best handle their retirement accounts when crafting their estate plan. Retirement accounts, however, are typically one of the largest assets in a person’s estate. Therefore, this failure can often prove problematic for beneficiaries. A recent article encourages readers to properly plan for their retirement accounts. Interestingly, many people […]
Estate Planning for Special Needs Children
Parents with special needs children need to be careful when drafting their estate plans, to ensure that the plan provides adequate support for their child without causing any negative consequences. As a recent article explains, the most common way to do this is through a Special Needs Trust (“SNT”). Special needs beneficiaries often receive benefits […]
Providing For Your Family Through Trust Bank Accounts
The key purpose of estate planning is to ensure the financial security of your family after your death. As a recent article explains, one way to ensure the financial security of your family is through establishing a trust bank account. Many bank accounts are well suited for trusts, these accounts offer multiple benefits: Trust assets […]
Tips to Avoid Estate Planning Fiascos
The preparation of an estate plan often makes it easier for one’s family to deal with the aftermath of his or her passing. As a recent article points out, however, sometimes estate planning errors can cause an estate plan to have the opposite effect. It is therefore important to review your estate plan for errors […]
Financial Steps to Protect Your Family
No one wants to face the reality of an unexpected death. However, more often than not, death comes before we are ready. A recent article discusses several steps a person can take to ensure that his or her family is cared in the event of the unexpected. Purchase a Term Life Insurance Policy A life […]
Vidal Sassoon Disinherited Son
2012 marked the death of British hairdresser and shampoo mogul, Vidal Sassoon. According to a recent article, Sassoon had disinherited his adopted son shortly before his death. Moreover, his will also blocked his three ex-wives from receiving any part of his approximately $150 million estate. Sassoon did not approve of his adopted son’s lifestyle, and […]
Take Caution When Designating Beneficiaries
People can name the person they would like to be beneficiary on a variety of accounts and financial devices. This is advantageous because the assets that have a named beneficiary transfer outside of probate, saving heirs time and money. However, many people forget that a beneficiary designation on many documents will override their will. A […]