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How Do I Protect Myself and My Children in a Second Marriage?

Who’s going to inherit on the death of one of the re-marrieds? Will this be the surviving spouse? If so, where will those inherited monies go on the second-to-die’s death?

Posted on: March 31, 2022

What are My Responsibilities if I’m Named an Executor?

If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility. While you have the option of declining the request, the person reaching out likely considers you to be responsible and detail oriented. An executor of an estate typically helps file paperwork, close accounts and distribute the assets of the deceased.

Posted on: March 30, 2022

What Can I Do Instead of a Stretch IRA?

Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.

Posted on: March 29, 2022

How Do I Talk to My Parents About Estate Planning?

If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. But because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off — and even more pleasing to avoid them altogether. If there’s a lesson to be learned from the pandemic, however, it’s that waiting until the last minute to prepare is seldom a good idea.

Posted on: March 28, 2022

Can Grandchildren Receive Inheritances?

Children and grandchildren motivate us to think about a will and life insurance. However, it is problematic to name minor children as beneficiaries.

Posted on: March 23, 2022

Do You Need a Revocable or an Irrevocable Trust?

There are two main kinds of trusts: revocable and irrevocable.

Posted on: March 22, 2022

Do You Have to Pay Taxes on Inherited IRAs?

Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.

Posted on: March 21, 2022

When Can Estate Assets Be Distributed?

Many estate executors focus on estate taxes and forget about income taxes. That can be an expensive mistake.

Posted on: March 18, 2022

What Does Estate Plan Include?

A will is first. In essence, a will spells out who will get your stuff, in what proportions they will get it and in some instances at least, upon what conditions.

Posted on: March 17, 2022

Can Estate Planning Reduce Taxes?

Once more hesitant to plan ahead, clients in today’s environment are much more proactive and willing to take action in the near term, rather than waiting and risking having to pay higher taxes down the line.

Posted on: March 16, 2022