Estate Planning and the Non-Traditional Family

The traditional notion of what a family is has shifted over the decades as society has become more open and excepting of families that do not fit the norm. Now, for the purposes of this blog post, a “traditional” family is that of a husband and wife and one or more biological children. Whether you agree with it or not, things such as divorce and same-sex marriages are more prevalent in today’s society and–possibly coinciding with that–so too is the blended family, which is formed by two previously divorced people getting married. While these types of families are becoming accepted Continue reading Estate Planning and the Non-Traditional Family

Think Twice About Leaving an IRA to Your Estate

Are you considering leaving your IRA and its assets to your estate? This may seem like a tempting move for people who are planning on remaining single for the rest of their lives and who may not have any dependents to list on a beneficiary form. Some people are plan to leave their IRA to their estate and then divide the estate, which may contain other assets, among beneficiaries. Sounds like a good idea, right? Wrong. First off, an estate cannot be named as a designated beneficiary as it does not have a defined lifespan. Next, it makes more sense Continue reading Think Twice About Leaving an IRA to Your Estate

Will Power: Have You Talked to An Estate Planning Attorney?

As I’ve said here on the blog many times, retirement planning involves more than just making sure you have enough money saved. It involves planning for your future, which includes such things as how you want to live out your final years as well as what you want done with your assets and estate once you have passed. That’s why you may want to talk with an attorney who specializes in estate planning as a part of your retirement planning process. This can be done along with communicating with a certified financial planner. Attorneys that specialize in estate planning can Continue reading Will Power: Have You Talked to An Estate Planning Attorney?

What’s Happening With Your Assets After You Die?

As you plan for retirement, you should also put some thought into what you want to happen with your assets and accounts when you die. Sure, thinking about mortality can be depressing, but putting the thought into it now will save your family and friends from stress and difficulties in the future when it comes to probating or dividing up your estate. You’ve most likely already started divvying up your assets when you filled out beneficiary forms for any retirement accounts or life insurance policies you may have. While filling out those forms is an important first step, you also Continue reading What’s Happening With Your Assets After You Die?