Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset, if the account owner dies. However, these forms can create confusion, unintended bequests and family turmoil, if not adequately monitored.
When Should You Have ‘The Talk’ with Your Kids?
An immature or troubled child could try to misuse your money or goad you into handing over assets you might need later. Complicated family dynamics, or just your desire for privacy, may make you hesitant to open up.
How Do I Start My Jupiter Estate Plan?
Estate planning design and implementation is not only complex but can be highly emotional. Therefore, it’s important to have a basic understanding of the estate planning process, before approaching a professional.
How Does a Special Needs Trust Work?
When parents start the planning process for a child with special needs, they usually work under the perception that if they create a special needs trust (SNT), the child will be taken care of and the needs will be met.
Steps to Take When a Loved One Dies
When a member of your family dies, you could be left to pick up the financial pieces. Finding all the information you need can be challenging.
Do I Need an Estate Plan with a New Child in the Family?
If you have children or are expecting one, you may also want to take the three big estate planning steps that we did.
Naming an Advance Designee for Social Security
Now you can actually have a voice in who is chosen, but you need to do it while you have capacity.
What Should I know about a Financial Power of Attorney?
Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won’t be called into action anytime soon, but with the coronavirus pandemic continuing, it’s something to think about.
Some Counterintuitive Florida Retirement Strategies
There are many ways to implement a successful retirement strategy. One of them is to carefully map out a sensible financial plan and then stick to it through thick and thin. Another is just to wing it, using your intuition and gut feelings, and hope for the best.
What are the Big Dental Care Issues for Seniors?
There’s a natural wearing down of our teeth as we age. Old fillings crack from years of chewing and grinding, which allows an opening for decay to spread around the edges. The best preventative is regular checkups and teeth cleanings, but not everyone is comfortable visiting a dentist.