What Are the Drawbacks of Naming Beneficiaries?
Although in many situations the advantages outweigh the disadvantages when selecting beneficiaries, there are always exceptions.
Although in many situations the advantages outweigh the disadvantages when selecting beneficiaries, there are always exceptions.
Creating a spendthrift trust for your loved one can limit their spending and your protect wealth.
If you are a property holder, you may use a Lady Bird Deed to transfer real property to a specific beneficiary while retaining certain rights to the property.
Last wills and testaments (also known simply as wills) are not just for the wealthy.
A QLAC is an annuity that you purchase with funds from an IRA, 401(k), or 403(b) account and that guarantees you will receive retirement income on a set schedule.
A crucial, yet often overlooked, component of estate planning is reviewing assets, such as 401(k)s, pensions, and savings accounts, and ensuring you have listed a beneficiary for each of these.
Vermont has become the first state in the U.S. to update its end-of-life choice law to make it legal for nonresidents to pursue medically assisted suicide.
Trusts are legal arrangements used in estate planning, alongside wills and advance directives.
Many power of attorney forms allow for a variety of options in designating who may act as your agent. Depending on the rules of your state, this can be one person or more than one person.
Powers of attorney that only allow an agent to do certain things are commonly referred to as a limited power of attorney.