When someone passes away, their tax headaches don’t die with them. In fact, those obligations can further complicate the lives of survivors: Federal estate taxes may be due and state inheritance taxes could also come into play.
When the legendary singer, songwriter and performer Prince died suddenly in 2016, he left an estate estimated to be worth between $50 and $300 million dollars – and no will. Without a spouse, living parents or children, his sister and five half siblings have been battling it out since, in one of the most complicated probate court proceedings in Minnesota history, with tens of millions of dollars being spent on fees for lawyers and consultants.
So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.
Leaving behind a home for a loved one to inherit is a huge gift, but without the right planning, it could be an equally large headache.
Knowing if a surgery is high-risk can help you make an informed decision about the procedure.
With the threat of COVID-19, we’ve all come face-to-face with our mortality, but are you prepared for the worst?
In case oral hygiene wasn’t important enough already, brushing one’s teeth could help maintain one’s mental — along with their dental — health.
Due to the debilitating nature of Alzheimer’s and related forms of dementia on your loved one’s ability to make sound financial decisions, the sooner you can get financial matters in order the better.
Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about those beneficiary designations again. However, that could be a big mistake.
People who need aid covering the financial costs of funerals for loved ones who died of COVID-19 may be eligible for up to $9,000 in assistance from the federal relief legislation that was enacted in March.
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