Estate Planning - Category

Estate planning is the act of preparing for the transfer of a person’s wealth and assets after his or her death. Source: Estate Planning Definition & Example | InvestingAnswers.com

Saving for retirement is an important endeavor that you should plan carefully. According the United States Department of Labor, more than 50 percent of Americans fail to calculate the amount needed for retirement. Several rules of thumb exist for retirement savings. Knowing these tips can help maximize your retirement saving efforts. Source: 8 Rules of […]

For once, the tax code actually helps you the way it should. Get saving ASAP — it’ll pay off sooner than you think. Source: Saving for Retirement Now Can Save You Money in April | Sapling.com

Financial advisors often start off their conversations with clients by taking stock of their current financial situation. Their debts, their spending habits, their budgeting skills and so on. That’s good information for grounding expectations, but it leads necessarily to the second, more important conversation: How to make sure your retirement plan […] Source: An Easy […]

Why do you need an estate plan? These five reasons go into detail regarding the benefits of meeting with an estate attorney to create an estate plan. Source: 5 Reasons You Need an Estate Plan | The Balance

Why You Need a Will or Living Trust Document If you die intestate (without a will), the laws of your state determine what happens to your assets and your minor children. So unless you have an inordinate amount of faith in your beloved state legislature, you need a written will to make your wishes known. […]

It’s never too early to start. Your first step: Take stock of all your assets. These include your investments, retirement accounts, insurance policies, real estate, business interests and valuable items – in financial or emotional terms – such as jewelry, cars, baseball card collections or your great-grandmother’s good china. Source: When should I start my […]

You may be a do-it-yourselfer when it comes to other aspects of your financial life, but estate planning is one area where it’s smart to get professional help. Among other things, the process can entail preparing a will, creating trusts, naming beneficiaries for insurance policies and retirement accounts, and selecting guardians for minor children. In […]

I think the advent of tax prep software has dulled the edge of many advisors, who may myopically follow the bouncing software ball instead of actually thinking about what’s happening. Source: Strategic Tax Planning For Powerful Tax Savings | Forbes

It is up to each of us to decide how much is the appropriate amount to leave our children. For those of lesser or moderate means, perhaps leaving all assets to your children makes sense. But there is a point where the prospect of inheriting too much money is a disincentive for the child. This […]