There may be potential benefits to life insurance beyond its traditional uses, especially when it comes to taxes, estate planning and long-term care.
An estate plan tells your heirs and the courts how to divide up your assets, but it also helps protect your loved ones from unnecessary hassle and expense–as well as potentially months, even years, tied up in the court system settling your estate.
This legal document can also be beneficial in other situations, such as if you want to leave an inheritance to someone but aren’t sure they will use the gift wisely.
I am a senior who is still working to increase my Social Security benefits. After age 70, do you still get any increases if you continue paying into the system?
The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, surviving spouses typically confront financial issues, which often trigger tax-related questions and consequences. Some of them are fairly straightforward, while others can be tricky.
If you are drawing up your will and want to leave money to a minor child, using a testamentary trust is one way to do so. This legal document can also be beneficial in other situations, such as if you want to leave an inheritance to someone but aren’t sure they will use the gift wisely.
The main financial vehicles of supporting disabled individuals—the special needs trust and the Achieving a Better Life Experience (ABLE) account—both come with special tax conditions that advisors need to consider.
Trust funds are not just for the ultra-rich. These sophisticated estate-planning tools can make just as much sense for middle-class Americans who own a home and have a net worth of at least $100,000.
The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, surviving spouses typically confront financial issues, which often trigger tax-related questions and consequences.
In general, a last will and testament is an easy and straightforward way to state who gets what when you die and name a guardian for your minor children.
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