3 Lies People Tell Themselves About Estate PlanningPeople tend to avoid estate planning like it’s the plague, but no financial plan can be complete without one. Sure, thinking about your own demise doesn’t rate high on the “fun scale,” but not everything in life does.To delay or get out of estate …
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Guidance on Choosing the Right Trustee (or Trustees) for Your Estate
Guidance on Choosing the Right Trustee (or Trustees) for Your EstateFrom a spouse or child to a bank or lawyer, you have several options to consider. To help make your decision, here are some questions to answer.You know how hard you have worked and the sacrifices that have been made to achieve your …
What is a Revocable Trust and Do I Need One?
What is a Revocable Trust and Do I Need One?To avoid probate court and streamline the wealth-transfer process for your heirs, a revocable trust (also known as a living trust) can be a valuable tool. It can help simplify the transition, as well as provide privacy.Let’s face it, estate planning is not …
The ‘stretch IRA’ estate planning strategy is gone. Here are 4 other options
The ‘stretch IRA’ estate planning strategy is gone. Here are 4 other optionsTax Guy presents some alternatives to the ‘stretch IRA’ strategy, which was curtailed by the 2019 SECURE ActThe COVID-19 era is a mess, and we’re still in the middle of it. But life goes on. So, let’s be more open to doing …
These 2 Words Could Send Your Retirement Money to the Wrong Beneficiary
These 2 Words Could Send Your Retirement Money to the Wrong Beneficiary"Per stirpes" vs. "per capita." Making the wrong choice could cause an estate planning disaster.Planning for your death may feel slightly morbid and uncomfortable. But the alternative option — ignoring estate planning and …