Trusts and Estates

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Estate Plans for Gen Y?

Submitted by Sophia Bera on Friday, October 24, 2014 - 12:00pm

Dying is really difficult to think about when you’re young and just revving up the best years of your life. But think: What would happen to your assets? To your family or loved ones? Estate planning looms large even for millennials.

If you were born between 1980 and 2000, consider this topic from a new perspective: Estate planning isn’t about expecting the worst. It’s about protecting the people you care about and making sure the assets you work hard to earn eventually disperse in a way you approve, no matter what.

Readying Estate Documents

Submitted by Mark Albers on Thursday, October 16, 2014 - 12:00pm

Death and taxes: Probably you rarely want to discuss either. This first of two articles looks at how what documents help account for both certainties, though, when planning your estate.

Estate planning involves arranging the transfer of your assets after you die, in line with your goals and wishes. The latter usually include reducing taxes and other expenses, maximizing wealth flow to your survivors and descendants and providing for charity.

Largest Wealth Shift Looms

Submitted by Larry Light on Saturday, September 20, 2014 - 9:00am

A huge amount of assets will move from baby boomers to their millennial offspring over the next decade, according to the chief of a leading investment firm during National Financial Advisor Week.

“This will be the largest transfer of wealth in history,” said Nicholas Schorsch, executive director of the board of RCS Capital, who estimated the amount millennials will inherit at $30 trillion.

Protecting Inherited IRAs

Submitted by H. Jude Boudreaux on Monday, October 6, 2014 - 3:00pm

Your own individual retirement account is generally exempt from the reach of creditors, but an inherited account may not be. If you plan to pass on an IRA to heirs, read on to learn how to better safeguard the money.

Protecting Special-Needs Kids

Submitted by Cherice Chen on Thursday, August 21, 2014 - 3:00pm

More than 56 million Americans have some type of disability, according to the Census Bureau. Autism, for example, affects one in 50 children. For parents of a child with a disability, the great fear is: “What happens when we’re gone?” One answer: Set up a trust for the child. Here is how.

To support a special-needs child during and beyond your lifetime requires truly special planning. Not only are there more costs and uncertainties but also heavier emotional weight.

Bad Decisions in Old Age

Submitted by Rick Kahler on Friday, September 12, 2014 - 3:00pm

What if you lose your mental capacity in later years and make irrational financial choices? How can you safeguard your assets from that threat?

After three decades as a financial planner, I see more and more clients reach, not just retirement, but their final years. An issue that becomes especially important at this stage of life is how to protect your financial resources from an unexpected threat – yourself.

Curbing Taxes on Inheritances

Submitted by Lon Jefferies on Tuesday, September 16, 2014 - 12:00pm

Inheriting appreciated assets from your deceased spouse can bring a host of financial complications at the time of life when you already have too much on your mind. Here’s the math to know how to be prepared – and maybe save on taxes.

Estate Planning: The Heirs

Submitted by Elizabeth Anderson on Monday, September 15, 2014 - 3:00pm

The murkiest part of estate planning is to discuss when and how to distribute your assets to your heirs. This process requires a series of considerations and trade-offs to avoid emotion-laden family problems.

Up to now in our series of articles we focused on numbers, which are objective and straightforward. But when it comes to this final set of issues, things get gray because emotional factors drive decisions now. There is no correct answer on how to distribute your estate.

Estate Planning: Dividing It

Submitted by Elizabeth Anderson on Friday, September 12, 2014 - 12:00pm

When you die, who gets your money? Your kids, you’d think. But before the money reaches your heirs, the government and creditors take their share first.

Now that you know the estimated amount you have to give, most of the math is over. The rest of the calculations have to do with who gets what proportion of your assets.

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