If you find yourself referring to this article now or you decide to keep it in a drawer or on your computer for some unforeseen time in the future, please know that I am here to help you and assist you as you seek answers to your questions and a measure of financial equilibrium. ...
When a spouse dies, each of their assets transfers to theirbeneficiary, who is typically their surviving spouse. Unlike Social Security benefits, which have an automatic survivor benefit, retirement plans require account holders to choose their beneficiaries. These beneficiary designations take precedence...
If the deceased was a Social Security beneficiary, contact the Social Security Administration immediately to stop the checks. "Individuals can be penalized and imprisoned under penalty of law for any Social Security benefits spent after a loved one dies," Castaneda says. "All benefits received after...
Neither you nor your spouse is liable for any student loan debt the other accrued before you got married unless you happened to co-sign for it; however, if one of you takes out a new loan after being married, both spouses could be. For that reason, it's essential to know all of the...
If you know someone impacted by any form of dementia (and the likelihood is that you do), find ways to help and encourage them through organizations like theAlzheimer’s Associationand theAlzheimer’s & Dementia Resource Center. The first Thanksgiving after someone dies (and the second and the...
If your spouse dies without a will in place - or intestate - this often means their estate will be settled by the state. Read on to see what that means.
With a fixed immediate annuity you can set up a steady income stream that you will never outlive no matter what happens to interest rates or the stock market. The payments can be made for your lifetime, for both you and your spouse's lifetimes, for a limited period of time, or for ...
Although laws and procedures vary from state to state, the probate process largely depends on whether the deceased person had a will. » MORE: How long do you have to file for probate after a person dies? Probate process with a will Here’s how the probate process often starts if the ...
While next of kin is a straightforward concept, your best bet is to execute a last will and testament or a living trust to have a say in where your assets go. This allows you to select your beneficiaries, making it easier for everyone when dividing up your entire estate after your death...
your loved ones and your estate. Even if you have unsecured debt that your family is not liable for after you die, creditors still may make a claim against your estate. This can reduce or even eliminate the assets you’ve worked hard to pass down to children to leave to your spouse. ...