Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
Charitable giving comes in many forms. Some people donate annually to their favorite charities, while others may volunteer their time or professional services.
Planning for the end of your life can be intimidating. When you are a farmer, your business is not only your livelihood and your passion, but, often, it is also intermingled with your family life. For that reason, estate planning — arranging for the management of your assets once you die — is especially important for aging farmers.
Utilization of a testamentary trust for the surviving spouse is an excellent idea, whether the survivor is the husband or wife.
Is it time you made a decision on the future of the wonderful getaway that everybody loves but only you maintain?
When is the last time you updated your will? Could your beneficiaries have changed? If you have a trust, did you actually fund it? Is your plan ready for the new SECURE Act? Here are five mistakes you don’t want to make.
If you’ve heard of trust funds but don’t know what they are or how they work, you’re not alone. Many people know just one key fact about trust funds: they’re set up by the ultra-wealthy as a way to protect passing on significant sums of money to family, friends or entities (charities, for example) after they pass away.
You’ve considered how you want your estate to be distributed after you die. Hopefully, you’ve even written a will to make sure your wishes will be followed. So, your estate is planned…right?
Do you ever worry about how your beneficiaries will manage their portion of their inheritance when you pass away? One solution that allows you to still exert some control over your money–even after passing–is with a revocable living trust (RLT).
Having an estate plan is among the most important things you can do for your loved ones. It is, however, a task many of us dread and put off dealing with until later in life. If there is one thing we can recommend, it is that it is never too early to start planning. However, it can be too late. Do you have an estate plan that will provide for your loved ones, in the event of death or upon incapacity?
