Pension and retirement accounts form a large portion of an individual’s wealth. Thus, make sure you account for them in your estate plan. If a retirement account holder completes a proper beneficiary designation, their account assets will bypass probate. Account holders often designate a surviving spouse or children as beneficiary, but they could also name a trust or a charity.
Category Archives: Retirement
Even as the coronavirus pandemic wanes, many older adults remain socially isolated and vulnerable to financial victimization. Robocalls, emails scams, and catfishing on social media platforms, con artists bombard the elderly routinely seeking financial gain. However, the National Adult Protective Services Association (NAPSA) reports that most financial exploitation cases the organization receives are from individuals known to the victims, such as relatives, caregivers, friends, and neighbors.
10
Mar
Mar
Loneliness is feeling sad about a lack of human connections and interactions. While social isolation may make most people feel lonely, loneliness is not the same as being alone. However, not everyone who lives alone feels lonely. What’s more, not all people who feel lonely live alone. People of any age may feel lonely, but the condition is especially common in seniors.
10
Feb
Feb
Do you still own the same property or have the same account balances as when your plan was first created? What will the balances be like at your death?
12
Nov
Nov
Since you spend your time rescuing other people, you may find it difficult to imagine a time when you might need help or rescue.
Estate Planning, Heirs, Retirement, Taxes, Trustee, Trusts
Estate Planning for Disabled or Chronically Ill Beneficiaries
28
May
May
he SECURE Act drastically decreased which individuals could stretch distributions over their life expectancy.
07
May
May
Although you may not own millions, your estate needs a proper legal plan, or an estate lesson plan. Estate is a general term referring to everything you own.
05
Mar
Mar
Many parents express concern their in-laws becoming outlaws. Their children may divorce. In this case, a divorcing spouse could seize their children’s inherited money and property .
California Law, Estate Planning, Estates, Inheritance, Retirement, Uncategorized
COVID-19 Estate Planning
27
Mar
Mar
Supporting a special needs child or grandchild can be expensive. While you are working or have a stream of income, you can allocate money as you see fit.
Estate Planning, Estates, Retirement, Taxes, Uncategorized
Coordinate Your Estate & Retirement Plans
05
Jul
Jul
Many people think of retirement funds as monolithic resources. That’s understandable. After all; we work for years socking away money for the future. Unfortunately, though, rising healthcare costs can erode even the largest retirement account. Retirement accounts typically form the largest portion of most estates. So, set up proper management to handle your fund. The […]
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