Why You Need a Secondary Beneficiary
Naming secondary beneficiaries can help estate planners avoid the delay and costs of going through probate, as well as ensure that your wishes are carried out.
Naming secondary beneficiaries can help estate planners avoid the delay and costs of going through probate, as well as ensure that your wishes are carried out.
Many people think that estate planning and writing a will are the same. However, one is actually just part of the other.
2022 has been a tough year for many seniors, but the outlook for 2023 shows some potential ‘silver linings.’
A joint and survivor annuity provides lifetime income payments for an annuity owner and their survivor. You contribute a lump sum of money to the joint and survivor annuity and can usually start receiving income almost immediately.
Kirstie Alley enjoyed the fruits of her labor following a successful career in the limelight, leaving behind a $40 million fortune and massive real estate portfolio.
The misconception that estate plans are only for wealthy individuals often prevents people from putting a plan in place. However, having an estate plan is beneficial for anyone.
Succession planning involves accounting for the worst-case scenario. Without accounting for these risks, your plan could fail, require expensive litigation or jeopardize the family farm.
After the 2022 midterms, the estate of late songwriter Tom Petty tweeted a statement that condemned the use of Petty’s 1989 hit “I Won’t Back Down” in one failed gubernatorial campaign.
Asset protection planning is the process of building barriers around your assets, whether those assets are personal or business, to keep them safe from litigation, creditor claims, seizure and burdensome taxes.
If you die without a will, you die ‘intestate’ and your assets will be distributed according to your state’s law. That could result in a distribution you didn’t intend.