Since Florida is only the fourth state to enact an electronic documents law, it’s questionable whether other states will honor an electronic will. This means that any assets distributed through the will might not go to the intended beneficiaries and instead pass via state statute.
The SECURE Act would change how long you can hold on to a 401(k), a traditional IRA or a Roth IRA that you’ve inherited from someone who’s died…With the new bill limiting the stretch to 10 years, estate planners are going to have to find other vehicles for tax savings.
It’s best to make your decision about serving as trustee with eyes wide open. Here’s a brief look at what the job will likely entail, along with some situations where you might want to seriously think twice about agreeing.
The false sense of security offered by DIY wills can lead you to believe you have things covered and no longer have to worry about estate planning. The reality, however, is that such generic forms could end up costing the loved ones you leave behind more money and heartache than if you’d never gotten around to doing anything at all.
The false sense of security offered by DIY wills can lead you to believe you have things covered and no longer have to worry about estate planning. The reality, however, is that such generic forms could end up costing the loved ones you leave behind more money and heartache than if you’d never gotten around to doing anything at all.
If you’re sued, your traditional homeowner’s and/or auto insurance will likely offer you some liability coverage, but those policies only protect you up to certain limits before they max out. Given this, you should consider adding an extra layer of protection by investing in personal liability umbrella insurance.
In most states, there are three legal documents which can make all the difference when a medical crisis strikes and your young adult child is far from home. Used together, they can ensure a parent or trusted adult be kept in the loop about care and treatment when a child over the age of 18 experiences a medical event while away at college, traveling, or living far from home.
Aretha Franklin died without a will or trust to pass on her multimillion-dollar estate. Franklin’s lack of estate planning was a huge mistake that will undoubtedly lead to lengthy court battles and major expenses for her family.
Making the commitment now to create a comprehensive estate plan will ensure your loved ones will not be stuck in court or conflict, if the unexpected happens while you are on vacation.