Naming a trust as a beneficiary of your retirement plan can be a good idea in some circumstances, but it can be dangerous if you are worried about creditors coming after your estate. There are a lot of good reasons to name a trust as beneficiary of a retirement plan,...
How Long Does an Executor’s Job Take?
Being the executor of an estate can be a time-consuming job, depending on the size and complexity of the estate. While a simple estate can take a few months and not require a huge time commitment, if there are problems, the job can drag on for years. An executor is...
Using a Roth IRA as an Estate Planning Tool
A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation. Unlike a traditional IRA, contributions to a Roth IRA are taxed, which means that the distributions are tax-free. Also, unlike a...
Why You May Need a Trust in Addition to a Power of Attorney
While everyone should have a durable power of attorney that appoints someone to act for them if they become incapacitated, in some circumstances, it is not enough. In these cases, a revocable trust can help. A durable power of attorney allows you to appoint someone...
Is this a crucial component of your estate plan?
When dealing with the creation and review of your estate plan, it is important to know where to focus first. You can do this by recognizing and picking out the most crucial components of your estate plan. But just what are they? How do you recognize these components...
How should you order your estate plan review?
Creating your estate plan often feels like a monumental hassle in and of itself. Thus, it makes sense that most people do not want to go back and review it. Especially since experts suggest you review it every three years, which go by in a flash when dealing with...
3 reasons to include a special needs trust in your estate plan
Because it deals with end-of-life and post-life matters, estate planning can be both uncomfortable and easy to put off. In fact, more than half of Americans have not yet created even a basic will. If you have a complex estate, drafting a comprehensive will may only be...
Why do children deserve equal time with fathers?
After a divorce, the courts order child custody by assessing the best interests of your children. As a father, you may worry that you will not receive equal time with your children. Many men worry about favored mothers in the court system. However, according to Live...
What to include in, and when to change, a will
Although you may be putting off estate planning because you do not want to think of your own death, it needs to happen if you want to take care of your family. Writing a will is one of the first things you should do, as it states how you want to distribute your...
What is a living trust?
Most people are familiar with what a will and last testament does, even if they do not have one themselves. However, many people have no idea what the will’s cousin document, the living trust, does. Living trusts are a wonderful addition to many comprehensive estate...