Johnson Law Firm
Americans are living longer than they were a generation ago, and the government knows it. Starting in 2022, that will be reflected in the amount of money you have to draw from retirement accounts at different ages.
Both help you pass down assets, while avoiding the time and expense of probate. However, one has much more flexibility than the other.
Do you know what happens to your HSA after you die? Health savings accounts, called HSAs for short, function differently than most other kinds of accounts.
Life insurance is a sophisticated financial product, with as many variations and permutations as there are creative insurance companies (there are many) and creative insurance planners (there are even more).
While estate planning can be emotionally taxing, since you must consider a time after your own passing, it is important to be proactive, both for yourself and for loved ones.
A TOD account allows the account holder to name a beneficiary on a non-retirement financial account to receive assets at the time of the account holder’s death, thereby (generally – i.e., when used correctly) avoiding probate.
Whether you own a cabin in the woods or a mansion at the beach, creating an estate plan will determine the best way to distribute a home to your children.
Several types of special income trusts and other strategies can be helpful, when trying to protect your family’s assets from the devastating costs of long-term care.
You created your revocable living trust to hold your assets. You did so because of the probate avoidance and other benefits. You may have included sophisticated tax-planning provisions in your trust.
Many people are under the impression that since they have a trust, they don’t need to do anything else. That’s not true. The trust you created years ago may not be appropriate for you now.
