Naming a beneficiary is a crucial step in estate planning. It promotes your wishes after you’re gone, streamlines inheritance, and spares your loved ones undue stress.
People often overlook critical steps when they are doing their estate planning.
Payable on death accounts can help streamline the process of transferring certain assets to loved ones, after you pass away.
No one can predict the future—and navigating that reality is precisely what makes estate planning so complicated.
While a Last Will can help ensure that one’s wishes regarding the distribution of their estate upon death are followed, it is the living trust that allows the estate to avoid probate.
After the divorce, Mike logged onto the employer’s benefits system and tried, but failed, to delete Wendy as the beneficiary of his life insurance.
Early in 2021, you should communicate with your advisers and review several items about your 2020 planning, if that planning is to have any likelihood of succeeding.
One of the biggest wealth transfers our nation has ever seen is about to take place. Over the next 25 years, as much as $68 trillion of wealth will be passed to succeeding generations.
Although there is often a progression of complexity in estate planning, this progression generally follows stages in life rather than specific ages.
You might not be able to spend all the money in your 401(k) plan before you die. If that happens, your retirement savings will pass to the person you name as the beneficiary of the account. The information on your 401(k) beneficiary form typically supersedes what is written in your will. Therefore, it is important to keep this form up to date for all your retirement and investment accounts.
Copyright © IMS. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. Some artwork provided under license agreement.
