Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
Most people become eligible for Medicare during the months around their 65th birthday. If you don’t sign up for Medicare during this initial enrollment period, you could be charged a late enrollment penalty, for as long as you have Medicare.
Bitcoin has gone in value from less than one cent in 2010 to a high of $20,000 in 2017, to a value at the end of July 2020 of nearly $11,000. Now the U.S. Congress is holding hearings on the digitization of the dollar, so cryptocurrency has become an increasingly important financial tool for individuals and businesses.
When creating an estate plan, one important question to consider is how to handle the transfer of personal property, including your home. A Qualified Personal Residence Trust, or QPRT, is something you may decide to create to minimize gift and estate taxes associated for your heirs.
The coronavirus pandemic has certainly caused havoc and concern for many people, particularly in regard to their health and their finances — and these two areas intersect in estate planning. So, if you haven’t drawn up your estate plans yet, or you think they may need to be revised, now may be a good time to act.”
A trust is often only as good the trustee in charge of it. Read on, as we examine the important role of the trustee and discover how to make sure yours is acting correctly, especially with complex instruments like insurance.
Sometimes beneficiaries end up not receiving their assets. Beneficiaries often lose out because the estate planning wasn’t done properly, but sometimes another family member contests the decedent’s will.
One in four American adults live with a disability, according to the Center for Disease Control. One in 10 adults over the age of 65 has Alzheimer’s or dementia, according to the Alzheimer’s Association.
If you have updated your estate plan during the Covid crisis and even found a way to sign your documents while maintaining social distance, do not overlook the last step of trust funding.
Anecdotal evidence suggests that people have recently decided to get serious about creating or updating their estate plans, according to Christine Benz, Morningstar’s director of personal finance.
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