A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust’s assets are split up after the surviving spouse dies.
Regardless of the preferred record-keeping mode, most people have some sort of digital footprint, making it important to know who would have access to your digital assets if you became incapacitated and how those assets would be distributed in the event you pass away.
Wills often go through probate, which is the legal process for settling an estate. The rules are different for every state, so check with an attorney or your local county office to learn more.
The IRS is weighing a change that could leave your heirs poorer than you might hope.
You don’t have to be older and rich to do some estate planning.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
Homes are illiquid assets that produce no income and come with ongoing costs for upkeep. Those issues can cause some snags with your trust.
The Internal Revenue Service (IRS) recently issued much anticipated proposed regulations that clarify and revise some of the required minimum distribution (RMD) rules for qualified plans (i.e., 401ks, 403bs, etc.) and individual retirement accounts (IRAs).
When it comes to owning property in two different states, you may wonder how to manage these in your estate plans.
Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.
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