Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
While 88% of business owners believe their family will control their business in five years, statistics from Family Business Institute show that only 33% of businesses survive to transfer to the next generation, and only 10-15% continue to the third generation.
While it’s never fun or pleasant to think about what will happen to them if the worst should happen to us, it’s very important to consider how we can ensure that they are well cared-for when and if we are no longer able to care for them ourselves.
There are good reasons why people want their estates to avoid probate, and a lot of ways to do it.
The first step in getting your affairs in order is to gather up all your important personal, financial and legal information, so you can arrange it in a format that will benefit you now and your loved ones later.
Trust funds are an important estate planning tool. They can protect your assets while you’re alive and help ensure that you leave money to your children or other loved ones after you die.
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).
If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust.
Unfortunately, there are several common missteps people make in their estate planning that can lead to unwanted results. Read on to discover the two things you should never include in your will, as well as what to substitute instead.
Does your retirement budget account for all of these costs?
