What you should know about naming an IRA beneficiary. Can your IRA be put directly into a trust? In short, no. Individual retirement accounts (IRAs) cannot be put directly into a trust. What you can do, however, is name…
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Estate Planning
Too many households commit these common blunders. Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth.…
The hows and whys of charity in America. According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more that $400 billion in the history…
A windfall from a loved one can be both rewarding and complicated. Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and…
What should you know? What should your executor know? When you think about your estate, you may think about your personal property, real estate, or investments. You also have other, less-tangible assets – and they deserve your attention as…
Values can help determine goals & a clear purpose. Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid of what their heirs may do with it. If a child comes from money…
The steps you may need to take to fulfill a major responsibility. If you are an executor to an estate, you must carry out your duties responsibly. Fulfilling these duties is not only a measure of your ability, but…
What you can do to lessen its impact for your heirs. Probate subtly reduces the value of many estates. It can take more than a year in some cases, and attorney’s fees, appraiser’s fees, and court costs may eat up…
Could it make the world a better place? Could it make sense, financially? A gift to charity may also help to improve your tax or financial situation. Here’s a brief look at some popular options for charitable gifting, with…
Now is the time to explore the possibilities. Grandparents Day provides a reminder of the bond between grandparents and grandchildren and the importance of family legacies. A family legacy can have multiple aspects. It can include much more than…