Gen Z Estate Plans: This Isn’t Your Grandpa’s Will This probably isn’t the first time you’ve been advised to make an estate plan. In fact, most people agree that making a will is extremely important—only to admit they haven’t made one in the next breath. When it comes to walking the walk, one demographic is quickly pulling ahead of the …
College Trust Fund vs 529 Plan: What Parents Need to Know It’s a privilege to pay for your child’s education, but let’s face it: it’s also a headache. Whether you’re planning to pay the bills as they come in or have been saving since their first birthday, you’ll likely be paying more than just tuition before you see a diploma. …
A Guide to Paying Final Expenses After the Death of a Family Member Paying expenses after death can place significant financial stress on grieving families. Without prepaid funeral services or payable-on-death funds, your personal representative might have to dip into their own savings to cover the costs—at least until probate clears. Unfortunately, many family members are unprepared for the high …
Estate Planning for Elderly Parents: How to Nudge Mom or Dad Into Making a Will Sixty isn’t what it used to be. Indeed, seventy doesn’t seem to restrict too many people either. These days, people clinically labeled “elderly” may be active, in great health, and show no signs of slowing down—have you seen who dominates the pickleball courts? So when …
Estate Planning for Millennials: How to Protect Your Partner, Young Children, and Aging Parents If you’re in your 40s or just celebrated your 50th birthday, your daily life has a variety of challenges. Career advancement, planning for retirement, raising teenagers, caring for aging parents—you’re so busy that the thought of getting your affairs in order hasn’t even crossed your mind. …
Rules for a Successful 529-to-Roth Rollover: Turn College Funds Into Retirement Funds After dropping your child off at school for their final year, you realize there’s still plenty left over in their 529 plan. Well, what now? If you’re considering transferring unused college funds into a retirement account, a tax-advantaged Roth IRA could help you boost potential long-term wealth accumulation. …
You probably know deeds are legal documents that transfer legal ownership of an asset from one party to another. However, you might not know that there are a myriad of deeds used in each state, each with different powers and limitations. The one you need depends on when and how you want to relinquish control of a property. For example, …
There may come a time when a relative’s behavior warrants their removal from your estate plan. Such a decision normally does not come lightly, and the person seeking to make the change has often agonized over the decision for several weeks (if not months). Completely disinheriting an heir in the immediate family, such as a child or grandchild, should be …
Most people consider themselves too young to start estate planning. It’s something their parents should think about, or their grandparents need to do. The truth is that there are advantages to estate planning at different ages — and significant drawbacks to putting off the task for another day. Every generation has different priorities and circumstances, but they all have one …
Many couples share the same home, finances, and children for decades without ever walking down the aisle. While you may not need a piece of paper to define your relationship, the law unfortunately does—and without proper estate planning for unmarried couples, your partner could lose everything at the same time they lose you.The good news is that you don’t need …
