Naming one or more beneficiaries is very important. It allows the account to pass to someone else without having to go throughprobate.6Remember to keep your beneficiary designation up to date, especially after events like marriage, divorce, or the death of a beneficiary. As part of the applica...
At any rate, here's something else to consider. If the amount the son in your example is to receive is not clearly defined by state law, there's probably some precedent found in case law that will suggest how much that kid can receive. Digging through all of that typically requires the...
Robert:Thank you, Helena. Some of the most common documents that can be ordered from states or counties are certificate of good standing, certified copies of formation or qualification, birth certificates, marriage certificates, or probate wills. So one thing to note are not all documents are pu...
Below are the 9 steps that show you how to get started with real estate investing. For the best effect, I recommend you go through them from start to finish. But if you are reviewing, you can also click on each link below to jump directly to the specific step: Identify Your Financial ...
All assets should be titled appropriately or have beneficiary designations to avoid probate —which is public, costly, and a hassle. Bank accounts should have payable on death (or POD) designations, and cars should have TOD designations. If you have a revocable trust, all taxa...
Financial planning doesn’t end upon your death – you need to make provisions for what will happen to your estate after your gone. At a minimum, if you don’t set up a will, your survivors will end up in probate court working out some sort of a deal to distribute your assets. ...
Some professionals will prefer to go straight to selling mode – getting in front of people at networking and social events. Or approaching organisations directly with a tailored proposal. Telemarketing to help set up appointments or research to create target lists or prepare proposals might then be...
Businesses in probate Ownership in a business is an asset, which means it may need to pass through probate. However, using an irrevocable trust— such as a grantor retained annuity trust (or a GRAT) or an irrevocable life insurance trust (or an ILIT) — can ease the complexity surrounding...
For example, a testamentary trust is often used to set up income and educational funds for children until they reach the age of 21.[6] Unlike a living trust which can be revoked or amended with ease, a testamentary trust is irrevocable once your will has passed through probate. Once ...
Financial planning doesn’t end upon your death – you need to make provisions for what will happen to your estate after your gone. At a minimum, if you don’t set up a will, your survivors will end up in probate court working out some sort of a deal to distribute your assets. ...