Steps for an Effective Pet Protection
May 4, 2023
Although in the past it may not have been the norm to provide for animals in our estate planning, times have changed.
Johnson Law Firm
Although in the past it may not have been the norm to provide for animals in our estate planning, times have changed.
Most estate planning starts with a will. The legal document covers what to do with your assets and provides important direction on the care for minor children.
The first SECURE Act extended the beginning date for taking required minimum distributions from the year after the account owner reaches age 70½ until they reach age 72. Just three years later, ‘SECURE Act 2.0’ has extended this age to 73, and offers a further provision for extending it again, to age 75, beginning in 2033.
Mistakes that are usually ugly, often costly and sometimes fatal – at least to an estate plan.
Retirees should secure themselves first, and if you’re all set there, then consider a few other things, such as the impact on the children and tax issues.
As divorce and second marriages become increasingly common, more people find themselves raising children who are not biologically their own. Estate planning for blended families should address this unique situation.
For many parents, transferring real estate to their children is an important part of their estate planning process. There are several ways that parents can do this, each with its own advantages and disadvantages.
A primary benefit of using TOD/POD designations is that assets held in the account will pass automatically to the beneficiary without having to go through probate.
Crafting a carefully considered estate plan can ensure that asset distribution aligns with both your intended legacy and your beneficiaries’ needs.
Everyone needs to worry about estate planning. That planning doesn’t only pertain to what happens when you die but what could happen if you end up incapacitated.
