Personal property can be an essential part of many people’s lives. Certain items hold a significant place in your heart, Whether it has monetary value or something you have collected for many years. Figuring out what to do with these items when you are no longer...
Losing a life insurance beneficiary can be a difficult situation to navigate. This blog will explore what happens when your beneficiary passes away before you and how it can affect your life insurance policy. Losing a loved one is never easy, and it can be even more...
If you haven’t dealt with losing a loved one, the days and weeks after a death can be overwhelming. Pain and grief are paired with important tasks that must be done, or unnecessary stress will result, explains a recent article, “11 Financial Steps to Follow After the...
Individual Retirement Accounts (IRAs) are powerful financial tools that can help you save for retirement while enjoying tax advantages. However, navigating the complex rules and regulations governing IRAs can be challenging. IRA mistakes are made frequently, and...
Our tax system is designed to tax the aggregate of property transferred during an individual's lifetime, commonly referred to as gifts, and the property transferred upon death. The total value of taxable gifts and assets transferred at the time of death must surpass a...
Dr. Howard Tucker recently turned 101 last month. The neurologist, who was born in 1922 in Cleveland, Ohio, still works full-time and lives with his wife of 66 years. Insider’s recent article entitled, “A 101-year-old neurologist who still works full-time shares what...
When crafting an estate plan, naming primary beneficiaries is critical in ensuring your assets are distributed according to your wishes. However, what happens if your primary beneficiaries predecease you or cannot inherit for some reason? This is where contingent...
Planning for death-related events isn't as fun as planning a weekend getaway. Therefore, you'd be forgiven for procrastinating. However, that doesn't mean you can put off naming an executor forever, says a recent article from AARP, "7 Things to Know About Appointing...
Buying their first home is one of the most significant milestones in a person's life. It's a momentous occasion that often signifies financial stability and independence. Many parents want to support their children in achieving this goal, and one common way to do so...
Families are not unusual; a fight over an inheritance leads to a prolonged legal battle. Even Elvis, the king of Rock and Roll, was unscathed by an estate controversy. The Ascent's recent article, "How to Create a Will That Keeps Your Family From Fighting," provides...
Why You Want to Avoid Intestacy When planning for the future, leaving things to chance is rarely wise. This holds especially true for your assets and estate distribution after you're gone. Intestacy, or dying without a valid will, can lead to unintended consequences...
The family home is a testament to cherished memories, echoing with laughter, love, and shared experiences. As the custodian of this precious legacy, you might consider how to pass the family home to your children while safeguarding its significance and value. In this...
