That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
I’m looking for guidance on where to start with planning, in case something happens to me or my husband.
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
The costs of long-term care for older adults can be significant. Federal Medicare health insurance benefits do not cover most of these costs. Most people who incur costs for long-term care cover them with a combination of personal savings, long-term care insurance and Medicaid, among other sources.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
There are now more than 70 million Baby Boomers in the U.S. However, millions of adult children may not be prepared to make important decisions about their parents’ future if necessary, because of a lack of knowledge about their parents’ finances.
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