Estate Planning with Minor Children: Mick and Mona have 3 minor children ages 12, 10 and 8. Mick and Mona have been procrastinating about a Family Living Trust and Estate Plan. Mick has a 401k plan valued at $300,000 and a life insurance policy with a $500,000 death benefit designating Mona as his primary beneficiary…
In light of the recent U.S. Supreme Court case of Clark v. Rameker, creditors will begin to zero in on Inherited IRAs. What is an Inherited IRA? These are IRAs inherited by non-spouse beneficiaries. Typically, spouses rollover IRAs and become the IRA owner if they are designated as the beneficiary. But non-spouse beneficiaries do not…
If you like gambling with cards, don’t carry that over to your designated IRA or Retirement fund beneficiaries. We all know a full house trumps a straight in poker. But did you know this, a Retirement form trumps a Will or Trust? That’s right. If you are considering the designation of your Retirement fund in…
Attention all procrastinators! We need to talk. There is something you have been putting off and don’t quite understand. Over the next thirteen weeks, we are going to be talking about Estate Planning. That’s right, the subject you’ve been postponing because it makes you face the reality of life, which includes aging, death and possibly,…