Archive for June, 2008
What is an Estate Plan
OK, an estate plan is a good idea, but what is it exactly? An estate plan speaks for you when you are no longer able. It helps your loved ones navigate through the legal and medical mazes surrounding severe illness and death. And it creates clear and simple directives that let others [...]
Talking to Parents About Planning
No one wants to talk about dying. When my dad wanted to talk about his arrangements I didn’t want to be there. Inside a voice was saying NO NO NO so loud I wasn’t able to really listen to what he was saying. After he passed away suddenly some of those conversations came back to [...]
Organizing for Your Heirs
When a family enters the home after a death, the priorities are sometimes overwhelmed by emotions and memories. Diving through desks, kitchen drawers and the shoeboxes in the closet are often necessary to locate and secure wills, trusts, financial statements, car keys, etc. This time is better spent on grief, consolation of family members, reflections [...]
Who Needs a Will, and Why?
A will tells how to distribute assets and debts, names the person responsible for settling the estate, names potential guardians for dependents, and hopefully resolves potential conflicts before they start.
A living trust does not replace a will, you still need a will even if you have a living trust.
Young parents especially need a will, [...]
Naming IRA and 401K Beneficiaries
You want your assets to go where you direct them - but making simple mistakes in setting up your IRA or 401K can keep this from happening.
Tax-Deferred Advantages
When a beneficiary receives an inherited IRA or 401K, they can usually roll it into a special IRA account and continue to receive the tax deferral, allowing the [...]