The ongoing pandemic has made everyone have to face some unpleasant realities, including the idea that one day we won’t be here anymore. Do you know how to make sure that your affairs are in order for your loved ones?
When it comes to estate planning, not having a plan is a plan. However, it is not a good one.
With all these anxieties and unknowns weighing on your mind, it might feel like there’s suddenly a pressing need to get your affairs in order―just in case.
A trust is often only as good the trustee in charge of it. Read on, as we examine the important role of the trustee and discover how to make sure yours is acting correctly, especially with complex instruments like insurance.
If there’s a family member or a friend in your life who refuses to do their will and get their estate in order, here are some tips to finally get them to take action.
You may want to set up power of attorney, if you’d like someone else to make decisions on your behalf. Special power of attorney has a narrow scope. It grants someone the right to act for you in certain situations. It can be helpful in financial decision-making.
My 401(k) has dropped $31,000 in three weeks. Should I borrow some now to prevent bigger losses?
Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset, if the account owner dies. However, these forms can create confusion, unintended bequests and family turmoil, if not adequately monitored.
It’s been more than six weeks since the threat of COVID-19 became evident on a widespread level, and life changed in an instant. However, while many people today are grappling with issues, like unemployment and slaughtered retirement accounts, seniors have a unique set of concerns on their hands: protecting their health and their finances simultaneously.
Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
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