A primary benefit of using TOD/POD designations is that assets held in the account will pass automatically to the beneficiary without having to go through probate.
No one wants to face a large bill for a funeral when they are grieving the loss of a loved one. It’s far preferable, when possible, to make arrangements in advance, utilizing one or more of the following sources of funds.
Completing an estate inventory can be one of the most challenging aspects of being the executor of an estate.
There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s and similar accounts that investors fund with pre-tax earnings.
Estate planning is all about ensuring that your wishes are met after your death. All estate plans should include a will and powers of attorney. However, in many cases, a trust has additional benefits beyond what can be accomplished with the will and powers of attorney.
The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their children.
My father recently passed away and we discovered he had a large credit card debt on a card in his name. My mother wasn’t aware of it. All assets are in both of their names. Is my mother liable for the credit card debt?
According to the U.S. Census Bureau, the average age of widowhood in the United States is a surprisingly young 59.