Estate Planning

LEAVING A LEGACY PLAN

LEAVING A LEGACY PLAN

Two things are certain: death and taxes. Some of us grasp that reality early, so we create wills, living trusts and estate plans. Others deny this reality and leave their heirs with perplexing questions, added stress and even anger when they pass away.The truly farsighted among us opt for a full-fledged legacy plan.

The Importance of TOD & JTWROS Designations

The Importance of TOD & JTWROS Designations

TOD, JTWROS...what do these obscure acronyms signify? They are shorthand for transfer on death and joint tenancy with right of survivorship – two designations that permit automatic transfer of bank or investment accounts from a deceased spouse to a surviving spouse.

WHO IS YOUR IRA BENEFICIARY?

WHO IS YOUR IRA BENEFICIARY?

Do you have an IRA or a 401(k)? You probably do. You may have both of these retirement savings accounts in your portfolio, or accounts that are similar.While IRAs and 401(k)s are commonplace, many IRA owners and 401(k) plan participants have a hard time answering a common question. They aren’t sure who they have named as the account beneficiary.

A CAREGIVER’S FINANCIAL RESPONSIBILITIES

A CAREGIVER’S FINANCIAL RESPONSIBILITIES

A labor of love may come to involve money issues. Providing eldercare to a parent, grandparent or relative is one of the noblest things you can do. It is a great responsibility, and over time it may also lead you and your family to reflect on some financial responsibilities.

THE FINE ART OF FLEXIBLE ESTATE PLANNING

THE FINE ART OF FLEXIBLE ESTATE PLANNING

Estate planning professionals often contend with ambiguities. A plan may need to be modified in the future when some development in family life occurs – and there are some estate planning tools that may help to provide that kind of flexibility.

ESTATE PLANNING AFTER A SECOND MARRIAGE

ESTATE PLANNING AFTER A SECOND MARRIAGE

Marrying again makes estate planning more involved. How do you provide for everyone you love? Should you provide for everyone you love? How do you arrange to transfer wealth in a way that won’t hurt the feelings of certain heirs?  

ESTATE PLANNING FOR YOUR DIGITAL ASSETS

ESTATE PLANNING FOR YOUR DIGITAL ASSETS

Social media and email accounts. Creative works, photos and keepsakes kept on home computers, the cloud or external storage drives. E-commerce accounts. Domain names. Bitcoin. These are all examples of digital assets. You will manage them closely as long as you live – but what will happen to them once you die?

USING CRUTs & CRATs TO SELL YOUR BUSINESS INTEREST

USING CRUTs & CRATs TO SELL YOUR BUSINESS INTEREST

Discover a pair of underappreciated exit planning vehicles. Charitable remainder unit trusts (CRUTs) and charitable remainder annuity trusts (CRATs) are commonly seen as estate planning tools. What frequently goes unseen is their value in exit planning for business owners.