When you die, your accounts and property pass to minor children in equal shares. However, such money often proves insufficient for individual heir’s expenses.
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Jan
Jan
Category Archives: Heirs
17
Dec
Dec
If you want someone to continue to manage your Facebook account after you die, you need to designate a legacy contact.
10
Dec
Dec
As professional advisors, we spend hours with our clients. In fact, we grow familiar with their most personal details. Listening intently and helping our clients achieve financial and tax planning goals creates a natural closeness between clients and advisors.
01
Oct
Oct
October is Special Needs Planning Month. To honor the event, let’s examine planning for disabled people. Plan so they live their best lives. Carefully manage family money to fit the disability-benefit rules. Also, provide additional perks for the disabled person. Finally, through strict rules, permit disabled people to exercise autonomy over some of the money […]
24
Sep
Sep
Unfortunately, despite our best efforts, millions of people misplace wills and trust documents.
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Sep
Sep
The first way to properly prepare to receive an inheritance is to discover what you will be inheriting. Is it real estate, a 401(k), or an individual retirement account (IRA)?
30
Jul
Jul
Depending on your parenting philosophy, decide you you want to treat your children or grandchildren. Treating loved ones equally means that they all receive the same amount.
Assets, California Law, Estate Planning, Heirs, Inheritance, Taxes, Trustee, Uncategorized
Wealth Transfer Checklist
23
Jul
Jul
To help your loved ones avoid this troubling statistic, educate, and update your extended family about wealth transfer goals. Finally, it alerts them to the plan you created to achieve these goals.
16
Jul
Jul
The person who was paid must not have been reimbursed by their insurance company. Reimbursed amounts do not qualify for eligibility under the unlimited medical exclusion tax-free gift category.
09
Jul
Jul
Planning to Receive an Inheritance Estate planning makes most people think about preparing accounts and property for loved ones. The goals include working in a tax-efficient way. Tax advisors protect clients from probate and disgruntled heirs. Also, they watch out for beneficiaries’ creditors, divorcing spouses, bankruptcy, and more. Finally, they try to prevent poor spending […]