Is A Trust For You?
Is a trust necessary for you or can you get by with a simple will? http://gty.im/101687451 There are several factors to consider when deciding if you should spend the money needed to set up a trust. Here are a few, says an article in Forbes: What part of your estate can you protect from probate? […]
Be Careful With IRA Beneficiary Forms
Despite what some people believe, retirement accounts are not included in wills. An article in the New York Times notes that who gets the money invested in a retirement account such as an IRA depends on who is named on the account’s beneficiary form. Lots of people make mistakes when it comes to retirement accounts. […]
Celebrity Estate Planning Mistakes Teach Lessons
Even though they usually have the money to get the best advice, celebrities often make mistakes with their estate plans. An article in Forbes suggests a few lessons recent celebrity deaths can teach us about estate planning. 1) Think about who you name to manage your trust. Robin Williams had created irrevocable trusts to provide […]
Estate Planning: Should You Get A Prius Or A Hummer?
Estate plans can be viewed like cars. Some folks prefer a Prius, because they need good gas mileage. Others choose a Hummer, because they need the room and the poor gas mileage isn’t a concern. The estate planning comparison is between having a will and an estate plan, says an article on nwitimes.com. The author […]
What You Should Know About A Living Trust
When passing on your estate to your heirs, a will or other estate planning tools can be used. A revocable living trust is one of best choices. A story on aarp.org says the revocable living trust is becoming very popular, particularly among baby boomers. This kind of a trust is a way to avoid probate […]
Is Writing A Will Like Backing Up Your Computer?
A little planning prevents a lot of trouble later. Its the same in life as it is in computing. A story in Time compared the two. The writer was distraught as her computer was, in essence, given its last rites. But since she had backed up everything important on the hard drive, her anxiety was […]
A Few Things You May Not Know About Wills
If you care about who gets your assets after you die, you know you need a will. However, there are many things about wills that a lot of people don’t know. Here are four of them, says a story on DailyFinance.com: 1) You have to follow formalities, even in the digital age Laws concerning […]
Inherited Wealth Good For The Economy?
Thomas Piketty, author of the best-selling “Capital in the Twenty-First Century,” makes a case for the importance of inherited wealth. He says it is good for the economy, and its value is growing, not diminishing. Piketty sees a future that combines slow economic growth with high returns to capital and believes that peoples’ living standards […]
When To Give Money To Your Heirs
You want to leave gifts for your heirs but you aren’t sure when to do it. Should you gift them now or leave it to them after you pass away? Under the law this year, you are exempt from gift taxes up to a lifetime max of $5.34 million. In addition, in any year you […]
Naming A Trustee The Key To Starting A Trust
If you are considering leaving property or other assets to heirs by means of a trust, one of the most important decisions to be made is who will run the trust once you are gone. That person — your fiduciary — will be responsible for managing the assets in the trust and making distributions […]