Is Estate Planning and Writing Will the Same Thing?
Many people think that estate planning and writing a will are the same. However, one is actually just part of the other.
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.
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.
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.
Creating a list of digital accounts and instructions on how to gain access to them is now akin to having a traditional will or a trust in estate planning.
These are among the things an estate attorney can help you with planning. That’s why it’s essential to ensure you have one by your side, if you’re leaving an inheritance behind.
Homes are illiquid assets that produce no income and come with ongoing costs for upkeep. Those issues can cause some snags with your trust.