You might not be able to spend all the money in your 401(k) plan before you die. If that happens, your retirement savings will pass to the person you name as the beneficiary of the account. The information on your 401(k) beneficiary form typically supersedes what is written in your will. Therefore, it is important to keep this form up to date for all your retirement and investment accounts.
It can be hard to move through your daily life after someone you love dies. It may be even harder to embark on the complex tasks required to put their financial affairs in order. However, you can’t afford to put that off.
Losing a loved one isn’t just an emotional burden—it also carries an administrative load. There are flower arrangements to pick, eulogies to write and a stream of paperwork to sort through.
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.
If you have children or are expecting one, you may also want to take the three big estate planning steps that we did.
When is the last time you updated your will? Could your beneficiaries have changed? If you have a trust, did you actually fund it? Is your plan ready for the new SECURE Act? Here are five mistakes you don’t want to make.
If you are quarantined or under a lockdown and can’t get to a notary, how can you get your will, trust and other documents executed? Don’t give up. There are ways to get it done without leaving home.
Here are the highlights of the most recent tax changes found in the $2 trillion coronavirus relief bill, which the Senate has approved, and the House recently passed.
There are few challenges more emotional and difficult than caring for an aging loved one who has dementia. In addition to the normal challenges of aging, elders who suffer from dementia can experience dramatic temperament changes and require more attentive care. As the condition progresses, wandering becomes a risk and around-the-clock care may be needed.
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