Overlooking an important step or making a blunder can derail all your careful planning, leaving your heirs and beneficiaries with a headache-inducing challenge.
Death, while inevitable, is not often predictable. This can leave many people financially unprepared if their spouse suddenly dies–especially if the deceased was the one that took care of the household balance sheet.
It may sound like it makes sense, and it might be easier than picking a person (or two) to name, however there are some serious downsides to naming your estate as the beneficiary for your IRA.
If you anticipate inheriting a 401(k) from a parent, a spouse or someone else, it’s important to know your options for minimizing tax liability.
Here are five critical mistakes to avoid when dealing with your beneficiary designations.
The IRS is weighing a change that could leave your heirs poorer than you might hope.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies, but Louisiana has special rules.
Choosing a beneficiary can be very simple, yet very important in any account that requires it.
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
3112 Jackson Street
Alexandria, LA 71301
1070-B West Causeway Approach
Mandeville, LA 70471
