In my experience, estate planning is one of the areas of personal finance with the most widespread confusion. Unfortunately, this can lead to costly mistakes in time, money and stress on people’s families.
There are better—and often more creative—ways to plan and divide that can avoid family squabbles over cars, jewelry, furniture and household items.
History is filled with examples of celebrities who died without a will: Bob Marley, Prince, Howard Hughes, Pablo Picasso, Jimi Hendrix and even Abraham Lincoln.
One of the most significant changes Americans will soon see is the sunsetting of tax laws under the Tax Cuts and Jobs Act (TCJA) of 2017.
Today, much of our lives is digital, and many things we hold dear are not physical. However, what happens to our digital assets when we die? That’s where digital estate planning comes in.
President Joe Biden is proposing a series of tax increases on investors and top-earning Americans in his annual budget request to Congress.
Although in the past it may not have been the norm to provide for animals in our estate planning, times have changed.
A type of education savings account called a 529 plan is just one of several tools families can use to prepare for the growing costs of higher education. While these plans can be beneficial for almost anyone since they let funds saved for education compound on a tax-free basis provided they’re used for eligible education expenses, individuals who live in states with special tax breaks for contributions tend to fare the best.
At any given time, the average American maintains between 30 and 50 online accounts. These may be with banks, financial institutions, utility companies, email providers, social media outlets, commercial shopping or travel sites and accounts unique to technology, such as an account to purchase apps for a smartphone.
How will Tom Brady divide their assets and fortune? Did they sign that prenup?
