It takes a special parent to care for a child with special needs. These parents’ greatest financial concern is typically ensuring that their children are cared for when they can no longer do so.
Locking up certain important documents and valuables in a bank vault could turn into a headache for you or your heirs.
When there is a large inheritance at stake (or even when there isn’t), it is a great idea to get everyone on the same page. A family meeting can make that happen, and it can even be enjoyable.
The Texas Department of Adult Protective Services (APS) recommended Tuesday morning that community members, aged 65 and older, keep their private information, like social security numbers, passwords, maiden names and bank account information, in a locked drawer or somewhere safe.
If you die without a Will, New York’s law of intestacy governs what happens to your estate – and you may be surprised what happens.
The impact on estate tax planning would be enormous if proposed legislation becomes law.
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
Life is messy sometimes. Divorce, bankruptcies and lawsuits happen. They can potentially wipe out the inheritance you’ve carefully set aside for your loved ones. However, there are many trust options to help keep life from ruining your legacy.
Even those with the best of intentions can fall into the trap of estate planning misinformation. Estate planning attorneys frequently hear rumors and ill advice disguised as facts.
Estate planning is a crucial part of any holistic financial plan, and financial advisors often work with estate planning attorneys for guidance in this area.
The Tax Cuts and Jobs Act raised the federal estate tax exemption considerably. Before the tax reform law, it was $5.49 million per person for 2017. It’s up to $11.7 million for 2021 ($23.4 million for a married couple).
Your DIY estate plan might miss important details.
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