Why Should I Name a Beneficiary?

Why should I name a beneficiary

Lewis established an irrevocable trust, in which he named ‘his son’s spouse’ as a beneficiary. At the time Clark, the son, was married to Vivian.

What Estate Planning Does My Child Need at 18?

does my 18 year old need estate planning

Picture this…your child is in the hospital, but the on-call doctor won’t talk to you let alone allow you to weigh in on medical decisions. While hospitalized, your child’s bills are going unpaid because you can’t access their accounts—potentially wreaking havoc on their financial credit. Why? Because they’re over the age of 18.

Can I Use a Roth IRA in Estate Planning?

Roth IRA for Estate Planning

Roth IRAs and Roth IRA conversions have received a lot of press recently. Between the various tax proposals that have been floating around Congress and normal year-end tax planning strategies, Roth IRAs are a popular topic.

TOD and POD Accounts: What’s the Difference?

TOD & POS what is the difference

A TOD account allows the account holder to name a beneficiary on a non-retirement financial account to receive assets at the time of the account holder’s death, thereby (generally – i.e., when used correctly) avoiding probate.

When Should a Trust Be Reviewed?

When should a trust be reviewed

Many people are under the impression that since they have a trust, they don’t need to do anything else. That’s not true. The trust you created years ago may not be appropriate for you now.