Although it’s the season of giving, no one wants to share with the IRS. Luckily, the law provides you with many opportunities to give gifts to family, friends, and charities tax-free. Some are straightforward, while others may require the help…
When you think of an IRA, you probably think of retirement. But what happens to your IRA money after you’re gone? The answer depends on how you go about creating your estate plan and selecting beneficiaries. You might be surprised…
If you are a small business owner, your focus is on keeping the company running on a daily basis. However, you also need to plan for how your business will survive if something unexpected happened to you. Without a plan,…
Parents always want to do whatever they can to help their children as they leave the nest and venture out on their own. Parents often want to help their children start a business or buy a home. This allows their children to…
When considering how to leave an inheritance to adult children, the first step is to decide how much each one should receive. Most parents want to treat their children fairly, but this doesn’t necessarily mean they should receive equal shares…
Estate planning offers many ways to leave your property to your children, but it’s just as important to know what not to do. Here are some things that are all-too-common, but textbook examples of what not to do or try.…
It’s clear why you might want to avoid court involvement in your estate for financial reasons, knowing that probate can quickly get costly and time consuming for those involved. But there is an emotional component to it as well. Your…
You may not think you need a will, but you do. You might believe that a will is only for the rich and famous, and not the average person who has a far smaller net worth. On the other hand,…
Executor’s Duties An executor, sometimes called a personal representative, is the person who is named in a will, appointed by the court, and responsible for probating the will and settling the estate. Depending on the state, an executor may work…