executor
Retirees, Plan for the Tax Hit From Savings Bonds
The federal tax consequences for Series EE and I U.S. savings bonds are anything but straightforward. Here’s how interest from savings bonds is taxed in four common situations for retirees.
9 Questions to Ask Aging Parents About Their Finances
Speaking to aging parents about money isnât easy. Here are nine important questions to ask.
Estate vs. Trust: Whatâs the Difference?
Trusts and estates are the two main legal structures for transferring assets to your heirs and beneficiaries. Each works in critically different ways. Estates make a one-time transfer of your assets after death. Trusts, meanwhile, allow you to create an ongoing … Continue reading →
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Trustee vs. Executor: Whatâs the Difference?
Estate planning can be difficult. In addition to the fact that it may bring up some uncomfortable feelings – like grappling with oneâs mortality – there is also the fact that it can be a complex legal process. There are … Continue reading →
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How to Manage Unpaid Debt From a Deceased Family Member
Experiencing the death of a loved one is traumatic enough, but worrying about what happens to their debt adds more heartache to the situation. Depending on the preparations your family member made in advance, surviving heirs might have to face this extra layer of grief. A family memberâs unpaid debt is usually paid from their […]
The post How to Manage Unpaid Debt From a Deceased Family Member appeared first on Good Financial Cents®.
Estate Planning for Millennials – How to Get Started
Qualified Domestic Trust (QDOT): Marital Deduction
Trusts can be a useful tool for estate planning if youâd like to preserve assets for loved ones while minimizing estate taxes. A qualified domestic trust (QDOT) is a specific type of trust that can offer tax benefits for married … Continue reading →
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Key Differences: Living Will vs. Power of Attorney
Hard choices wait around every corner as you age, but some of the most difficult ones are about your own care. Without a plan in place, you might not be able to convey your wishes to those around you, leaving … Continue reading →
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Important Estate Planning Documents to Know
For many, a strategy for estate planning is a must-have at any stage in life. This ensures that your wishes on how to handle your wealth, health, and children are carried out after your demise or a medical emergency that leaves you incapacitated. Having the proper documents in place makes it easier, faster, and less […]
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