When you remarry, you're not only combining residences with your new spouse, you're also merging your finances. If you have children, it may involve some financial-related stress. For instance, you might need to factor in child support payments or consider whether your new marriage will impact your children's inheritance.
An inherited 401(k) is simply a 401(k) that’s been passed on to a beneficiary on the death of the account owner. If the original 401(k) owner is married, the inheritor is usually their spouse. The exception to the rule is if their spouse signs a waiver allowing them to name someone else as their plan beneficiary.
You should not delay in applying for a VA pension. It takes about nine months, on the average, to go through the application process and get approval of your VA pension request.
An ethical will—also referred to as a legacy letter—can be a valuable complement to your legal will, as well as a wonderful gift to your family or other loved ones.
Planning for your farm’s future has never been more urgent. With one-third of United States farmers older than age 65, it’s estimated that 70% of farmland will change hands in the next 15 years.
You do not have to be raising young children to be in the sandwich generation. Your children might be adults but need financial help, because of student loans or other financial pressures.
Whether you've just signed a multi-million-dollar contract or won the lottery, here are some tips that will help you keep and grow your wealth responsibly.
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust's income, rather than the trust itself paying the tax. However, such beneficiaries are not subject to taxes on distributions from the trust's principal.
