Kenny Rogers didn’t write a lot of his greatest hits. His heirs get a little cash, when any of his recordings are played or purchased online, but that’s just a trickle of income.
Whenever you open a financial account, you’re almost always asked to name a beneficiary. Simply stated, a beneficiary of the account is someone who is entitled to the benefits of the account, typically, on the death of the account holder. If you’ve purchased life insurance, for example, you name a beneficiary who receives the benefits of the policy when you pass.
Did you receive an inheritance of cash, investments, or property? Here are four ways that can help you keep it from being swallowed up by taxes.
As you age, it is important to have your affairs in order to ensure peace of mind for you and your family. Several documents need to be in place to help your family know and carry out your wishes.
Probate and trust administration are not the same. There are important differences and similarities between administering a decedent’s probate estate and administering a decedent’s trust estate.
A lot of people who received stimulus payments for their dead parents or spouses are more confused than ever.
Estate planning is the process of arranging, while you are alive, what will happen to your estate, your children and your wealth after you die.
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust’s income, rather than the trust itself paying the tax. However, these beneficiaries are not subject to taxes on distributions from the trust’s principal.
Generally, if you own property, have life insurance and/or have other assets which total over $150,000 (including life insurance and real property), you are a candidate for asset protection.
A bill requiring nursing homes to plan for the next pandemic is one step closer to being made law, after gaining approval in both chambers of the Legislature on Wednesday.