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.
Creating a list of digital accounts and instructions on how to gain access to them is now akin to having a traditional will or a trust in estate planning.
My ex-husband passed away. However, I was named the beneficiary on his 401(k). Even though we are divorced, do I still have a right to it?
For parents who have a child with special needs, planning for their loved one’s life after they themselves are gone can be overwhelming. Breaking the process down into manageable parts and working with specialized professionals and companies can help.
What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult children dies before the parents, who gets that contingent beneficiary’s share?