The Costs of the Rising Cost of Long-Term Care
As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.
Does Divorce Affect Social Security Spousal Benefits?
As a spouse, you have the option of claiming a Social Security retirement benefit based on your own earnings record or collecting a spousal benefit equal to half of your spouse's Social Security benefit.
How Life Insurance Is Involved in Estate Planning
Life insurance can be an integral and important part of a well-drafted estate plan. There are numerous benefits to owning a life insurance policy aside from providing a large sum of money to beneficiaries.
Gift of Home Equity: What It Is and How it Works
More and more elders are choosing to pass on their wealth to heirs while they're still alive. The growing popularity of "giving while living" comes as good fortune for the many young people who are currently unable to afford a home.
Why Trusts are Important Estate Planning Tools
Trusts can offer many benefits, including allowing assets to pass directly to beneficiaries and charitable organizations without going through probate, minimizing taxes, and protecting your legacy from creditors.
Blended Families and Wills in Estate Planning
Estate planning for blended families is key to a smooth inheritance process, especially since probate rules and intestate succession law do not treat step and biological children the same when it comes to inheriting.
Probate Process: A General Timeline
In general, the probate process moves quickly if the estate has minimal assets and little debt. Larger estates can take anywhere from nine months to a few years, especially with problematic family dynamics.
7 Things to Know About Living Wills
What would happen if you became seriously ill or injured and were no longer able to make your health care decisions? A living will can outline your wishes so your loved ones can make informed decisions about your care in an emergency.
What Is a Contingent Beneficiary?
When making a will, you’ll work with an estate planner to designate those who will inherit from you. The persons (or entities, such as a charity) you choose are the beneficiaries of your will.
High School Graduation: A Good Time for Financial Planning
Nearly one-third of young adults don't have a budget, which creates a huge stumbling block for financial success. Give your children the tools they need to control their money instead of wondering where it went.