The most well-known ‘death’ tax is the Federal Estate and Gift Tax. However, the reality is that few people really have to worry about the cost of federal estate taxes.
If you get COVID-19 and struggle to breathe, would you want to be put on a ventilator? Whatever your answer, ask yourself another question: Who would make your wishes clear, if you couldn’t speak for yourself?
Vanessa Bryant has filed legal docs to protect all of her children. She is asking a judge to amend Kobe’s trust, so she can provide for their youngest daughter, Capri, who was born after the most recent trust document was drafted and signed.
Before taking a closer look at revocable and irrevocable trusts, it helps to know what a trust is. In simple terms, it’s a legal entity that allows you to transfer assets to the ownership of a trustee.
When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you’re a beneficiary, you have to decide how you’re going to use it—a decision that’s a little more complicated this year than it normally is.
Whether you’re planning ahead for your own heirs or have been asked to serve as executor for someone else, it pays to understand what the role requires.
The world exists just as much online, as it does offline. Failing to recognize that when planning for the end of life, can lead to unexpected repercussions for survivors.
Federal officials have unveiled a new toolkit to help states expand telehealth coverage under Medicaid and the Children’s Health Insurance Program (CHIP) to fight the Coronavirus pandemic.
How do you plan to pass the gift of your good financial fortune on? Defining your goals and creating a giving strategy is key to beginning the process.
External events that cause reflection are good reminders to update estate planning documents.
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