Do Most People Need a Living Trust?
If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust.
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If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust.
The Internal Revenue Service (IRS) recently issued much anticipated proposed regulations that clarify and revise some of the required minimum distribution (RMD) rules for qualified plans (i.e., 401ks, 403bs, etc.) and individual retirement accounts (IRAs).
To get power of attorney (POA), the person granting you that power must name you as the agent to have the powers specified in the POA document. It must be signed by the giver while s/he is sound of mind.
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
Beyond not making a will at all, here are the biggest mistakes that estate planning attorneys see clients make.
It’s an important task that is easy to procrastinate. However, here is why you shouldn’t:
Who’s going to inherit on the death of one of the re-marrieds? Will this be the surviving spouse? If so, where will those inherited monies go on the second-to-die’s death?
In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. Although there is near-universal acceptance of the importance of gifting, there are several issues you should consider before making any gifts.
Even for the wealthy, their lifetime Social Security benefits likely rank high among their largest assets. For people with average lifetime incomes, it is often the biggest.
Your last will and testament is one of the most important legal documents that you will ever make. It allows you to direct where you want your property, guardianship and debts to go after you die, and allows you to appoint an executor to act out your wishes.
