Our Estate Planning Blog
Money matters can get complicated when two families unite. Planning is key.
Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in the account, typically, in the event of the account holder’s death.
Are you worried about what might happen to your accounts and investments if you become disabled or incapacitated?
Digital assets are now a major cause of problems in settling and distributing estates. You must carefully consider and incorporate your digital life into the estate plan.
Unfortunately, death doesn’t just happen to other people. We should all get our affairs in order, so that our loved ones can focus on grieving and moving on once we pass.
How does step-up basis impact capital gains tax impact an inheritance?
Many states have moved away from taxing assets after people die because of the harm to family businesses and farms. However, a new proposal before state lawmakers would double Illinois’ estate tax.
Medicare is designed to help pay for healthcare costs for seniors once they turn 65. While it covers a number of healthcare expenses, it doesn’t apply to costs associated with long-term care in a nursing home.
Gifting stock to family members may lack the pizzazz of leaving a luxury car adorned with a bow in the driveway, but it’s a gift that can add value to their lives long after most other gifts have been forgotten.
Remember that a will goes through probate, so a husband and wife typically try to avoid it by using joint ownership or beneficiary designations. However, they’re often mistaken by believing the will still controls their estate.
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