Nobody really likes to talk about death, much less plan for it. But it happens, and you need to prepare for when it does. Follow the estate planning tips below to make sure you are prepared for the inevitable. 1. Establish a Will The first step to planning your estate is establishing a Last Will …
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Providing For Your Pet After You Pass
Whatever your initial reaction to pet estate planning, we know that you adore your pet. In fact, statistics show that you feel even more strongly than that. In a recent poll, 9 out of 10 people said that their pet was considered a member of the family. But, have you considered what will happen to …
Insolvent Estate: What Happens When Someone Dies in Debt?
Once an executor or administrator has been appointed to an estate, one of their first tasks is to pay off debts the deceased owed at the time of his or her death. If the estate has enough assets to cover these debts, the executor or administrator is charged with paying all administration expenses and legitimate …
Insolvent Estate: What Happens When Someone Dies in Debt?Read More
How the SECURE Act Could Change Your Estate Plan
For many, your IRA is the largest asset in your estate. Yes, even larger than your home or your investments. Why? Because you worked hard to save for retirement. You have dutifully contributed to your IRA over the years knowing that, not only is your IRA your safety net in retirement, but it is also …
Homebuyers, Don’t Get Scammed Out of Your Life’s Savings
In the past few years, there has been a spike in cybercrime affecting homebuyers. According to the FBI, homebuyers are at risk because of a fairly easy-to-execute online scam. Basically, what can happen is a scammer can use malware to hack into the email of a realtor or title company. Then, they track when you …
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The Importance of Proper Beneficiary Designations
Estate plans involve a number of different types of assets, including real estate, personal property, and retirement assets. Each asset is handled in a different manner, depending on whether the property owner has a last will and testament or a revocable living trust. If a person has a last will and testament, most of …
This Summer, Introduce Your College Kid to the World of “Adulting”
You may have already noticed the changes: your college kid is home for the summer with a new perspective, new friends, new interests, and maybe even a new sense of being an “adult.” He or she is taking on more responsibility and is demanding to be treated accordingly. This can be a thrilling — albeit, …
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Create a Legacy that Represents Your Life
Everyone, regardless of age, status, material wealth, education, or notoriety, will leave a legacy behind. Even if we never think about our legacy, never take any actions to prepare for after our passing, each of us will still pass and leave our imprint on the world. Think about it: what if today was your last …