Category Archives: Financial Planning
What Happens to a Joint Account When my Spouse Passes Away? (Part Two)
You May Face Potential Estate Tax Consequences At least some portion of your joint account is going to contribute to the decedent’s taxable estate value, even if the joint account itself won’t be subject to probate. Probate estates, and taxable estates are completely different, and we do want to make that part clear. A… Read More »
What Happens to a Joint Account When my Spouse Passes Away?
How Do Joint Accounts Work? This will usually consist of one or more people who will retain full access to the money contained in a joint bank account, irrespective of who actually opened it or which person is making the majority of the deposits. These people could be related, such as with a parent… Read More »
Hackers are ramping up attacks on financial accounts
The idea of losing your life savings to hackers is terrifying — and it’s why an increasing number of folks are choosing not to consolidate their retirement assets, even if that move could be financially savvy for them. One particular couple had already been the target of identity theft in the past, then it… Read More »
SECURE Act has Major Implications for Inherited & Traditional IRAs
President Trump signed the SECURE Act into law earlier this week as part of the government’s new spending bill and experts agree that this will influence most retirement savers in one way or another. Recipients of individual retirement accounts may not actually see their inheritances for more than a decade due to the recently… Read More »
Estate Plans: 10 Key Topics to Discuss w/ Your Attorney
Discussing your estate plans can be a tough topic for many to consider. Essentially, it forces a person to contemplate important financial issues that may arise while they are still alive, as well as after their own death. Consequently, it is very important to ensure that your resources are managed sensibly so that next-generation… Read More »
Do I Need a Lawyer to Plan an Estate?
So, do you need a lawyer to plan YOUR estate? If you’re thinking about saving a few bucks by creating your own Will & Estate Plan, you might want to think again. Perhaps the most important thing to be asking yourself as you consider planning your own estate documents is whether or not you… Read More »
Disinheriting a Child in Washington State
Are you considering having to Disinherit a Child in Washington State? Parents have many different reasons for wanting to disinherit one of their children. Whatever the reason, it is important to consider a few things when disinheriting a child. Although it is always a painful decision, some parents feel like they have no other… Read More »
Baby Boomer Divorce
Although the Baby Boomer Divorce rate in the United States is declining slightly, the divorce rate among those age 50 and older is increasing. It seems that more people are divorcing later in life, after their children are reared and out on their own. It has been said that a divorce is worse than… Read More »