Although you may be excited about the prospect of receiving unexpected money, there are certain financial moves experts say you should make to make sure you’re prepared for that inheritance.
Legacy and Estate Planning
Lewis established an irrevocable trust, in which he named ‘his son’s spouse’ as a beneficiary. At the time Clark, the son, was married to Vivian.
This is a great time to get organized with estate planning—it will make things a lot easier for yourself and your loved ones.
This case should be required reading for any person who has an interest in an entity or a trust.
Most family members may not have a clue what we have floating out in cyberspace. Accessing or deleting accounts can be tricky for family members, if they don’t have your login credentials.
Life estates can provide effective means to create joint ownership of property, avoid probate and transfer property after death without incurring gift taxes.
You should be aware of what a will can’t or shouldn’t do.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
The Four Keys To California Estate Planning Almost any adult who has a full-time job, owns a home and is married will benefit from a will. If you have children, you definitely need a will to formally document whom youREAD MORE