
How Can Blended Families Use Estate Planning?
No matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.
No matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.
Many people plan their estates diligently, with input from legal, tax and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth.
Every family has one–or maybe more–black sheep. They’re people who march to their own drum and handing them an inheritance could be problematic.
Lack of understanding around estate planning may be leading Americans to avoid getting a will, even as interest is on the rise due to the global pandemic, according to a new survey from financial services leader Policygenius.
Creating a will is one of the most basic elements of estate planning. There are different types of wills you can choose from, including a simple will.
My colleague’s father recently got infected with the coronavirus and had to be rushed to the hospital. The move was abrupt and hectic, and left no time for any deep conversation with his wife and family as he was being taken out to the ambulance.
In a nutshell, an estate plan encompasses the accumulation, conservation and distribution of an estate. Done well, it will enhance and maintain the financial security of the next generation.
If you get bogged down with a high balance that you can’t easily afford to pay off, it can take years to get out of debt. However, what happens to your credit card debt, if you die before you’ve repaid it?
A living trust is an estate planning legal document that contains your instructions and authorization for what you want to happen to your assets, when you become disabled or pass away.
Taking a few simple steps now can potentially help save your beneficiaries thousands in legal fees and taxes.
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