Some financial products like life insurance or tax-advantaged retirement accounts require you to name one or more beneficiaries. However, thatâs not the case with many assets. For instance, you can buy a house or set up a savings account without ⦠Continue reading â
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Estate planning matters if youâre hoping to preserve as much of your wealth and assets as possible for future generations. One of the biggest challenges is finding ways to minimize your tax liability, as taxes can shrink the value of ⦠Continue reading â
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When youâre in the midst of a divorce, youâre probably not thinking about estate planning or your will. But if youâre divorcing, you should think about the impact a divorce can have on an estate plan. Because even if your ⦠Continue reading â
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Estate planning is crucial to leaving your beneficiaries with your possessions as you intend. However, life insurance beneficiaries can conflict with the terms in your will if you arenât thorough. Your life insurance beneficiary designation usually supersedes your will. So ⦠Continue reading â
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Revocable trusts, otherwise known as âliving trusts,â do not protect your assets from creditors. In fact, they are subject to collections actions and lawsuits, and they are included when third parties evaluate your personal assets. Weâll discuss how it works. ⦠Continue reading â
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If you have a residence you would like to pass onto loved ones after your death, and youâre worried about your home going into probate, you may want to put your home in a property trust. If that is something ⦠Continue reading â
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Adding an annuity to your financial plan is something you might consider if youâre hoping to generate additional streams of income for retirement. Annuities are contracts that allow you to exchange a current premium for future payments. If youâre not well-versed ⦠Continue reading â
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Part of planning for the future involves getting your estate in order, and determining who you want your assets to pass to when you die. If you have real estate property, and want it to transfer to loved ones without passing ⦠Continue reading â
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After a grantor passes away, becoming the trustee can be daunting, especially if youâre responsible for distributing property. Houses are among the most valuable assets in a family for financial and sentimental reasons. Therefore, itâs critical to understand how to ⦠Continue reading â
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When you die, a section of law known as estate and probate law governs how your assets are distributed. Someone who dies (known as the âdecedentâ) with a legitimate will has set up what is known as a testate inheritance. This ⦠Continue reading â
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