As your parent's age, they may become more vulnerable to scams and fraud. Scammers often target seniors because they believe they are more trusting and may have access to retirement savings or other assets. As a loving child, it’s essential to take steps to protect...
Estate planning is a necessary process that everyone should go through to ensure that their assets are protected and their family is taken care of after their passing. One of the most popular estate planning tools is a revocable trust, also known as a living trust....
The federal estate tax has continued to increase. In 2023, the federal estate tax only applies to estates worth more than $12.92 million. For a married couple, the exemption is $25.84 million, explains a recent article from The Alliance Times-Herald, “Estate,...
When it comes to estate planning a transfer on death (TOD), also known as beneficiary designation, can be a useful estate planning tool in certain situations. This option allows you to name a beneficiary on certain assets (such as bank accounts or investment...
Memorabilia can be a source of great joy and nostalgia for many people. Kiplinger’s recent article entitled “Estate Planning for Memorabilia Collectors: Don’t Leave Your Family in the Lurch,” says the first step is to know what you have. From sentimental items passed...
When someone passes away, the task of managing and distributing their assets falls to the executor of their estate. An estate executor is responsible for carrying out the deceased person's wishes as outlined in their will, including identifying and appraising assets,...
Transferring real estate to your children can be a complex process, but it's something many families choose to do for a variety of reasons. There are several steps involved in transferring real estate to your children, and it's important to have a clear understanding...
Many times, the word probate carries a negative connotation and it’s often positioned as something to avoid at all costs. According to a recent article “The Legal Corner: Pros and Cons of Probate” from The Huntsville Item, it’s important to understand the role probate...
Estate planning after a divorce can be a complex process, but there are several key factors that you should consider. Even the most amicable divorce requires reviewing and updating your estate plan, as explained in a recent article from yahoo! finance, “I’m...
To help you sidestep some of the most common blunders and get the most out of your IRA investments, Kiplinger’s recent article entitled “Don't Make These Common IRA Mistakes” points out the most common blunders and how to avoid them. Not Planning for the "Second...
When it comes to estate planning, the process can feel overwhelming, but it’s one of the most important steps you can take to protect your family and hard-earned assets. Whether you’re just starting out or updating your plans, having a comprehensive estate plan in...
Once a diagnosis of dementia has been received, families need to immediately begin advance care planning, as explained in a recent article titled “Can Someone With Dementia Sign Legal Documents” from Health News. Depending on their medical condition, some patients...
