It’s often the case that the most critical conversations are some of the most challenging ones to have. If you plan on discussing long term care with your parent or family member this year, it can help to be prepared. After all, this conversation will need to resolve many questions…
If you like murder mysteries and went to the movies this holiday season, there’s a good chance that you saw the film, Knives Out. So far, the film has brought in 70 million dollars in ticket sales and received substantial critical acclaim. Behind the story that makes this film intriguing…
Several facets of estate planning law have made this an excellent time to create a powerful estate plan. After all, low-interest rates and high exemption thresholds for things like estate taxes and lifetime gives have allowed more people to pass on wealth in a powerful way. Congress also passed legislation…
Irrevocable trusts provide the trust’s creator with certain protections. Despite the advantages that these trusts provide, trust creators must give up any control over assets that are placed within the trust. This article reviews 4 important things you must remember about irrevocable trusts in case you intend on making them…
In December 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was launched. Among the changes introduced by the Act, one of the most notable developments is that stretch IRAs have been eliminated. “Stretch” IRAs let a beneficiary gradually withdraw the balance from an IRA throughout that person’s…
Even the most cautious and informed people sometimes end up making estate planning mistakes that result in unintended consequences for loved ones. A trust might have become outdated due to the introduction of new laws. Or, unforeseen life events might have left a person’s estate planning goals impossible. As a…
Many people think that retirement involves doing nothing. In reality, if you want to make sure that you avoid legal and financial complications, substantial consideration must be made during the retirement period. This involves handling Medicare issues, filing for Social Security, and navigating tax and distribution-related nuances. This article reviews…
If you have a pet, you likely have a plan for the pet in place in case you go on vacation or out of town. You might even have created an estate plan to designate a certain person to take care of the pet in case something unexpectedly happens to…
A 401(k) rollover occurs when a person directs the transfer of the money in their retirement account to a new plan or IRA. The most common period when people decide to rollover 401(k) is when they either change jobs or retire. One of the most substantial challenges in rolling over…
Estate planning is a complex process. For many people, estate planning is overwhelming and results in many unanticipated costs. For other people, it is frightening to accept that they too will one day pass away. Despite how you might feel about estate planning, there are several important estate planning documents…