4 provisions typically forgotten in an estate plan

Even if you’ve created an estate plan, are you sure you included everything you need to? There are certain provisions that people often forget to put in in a will or estate plan that can have a big impact on your family. 1. Alternate Beneficiaries One of the most important things your estate plan should include is at least one alternative beneficiary in case the …

The best and worst states for elder protection

The older the population gets, the greater the potential for elder abuse. States have laws in place designed to combat elder abuse, but some states are doing a better job than others. The consumer finance website WalletHub researched the protections in place in all 50 states and the District of Columbia to determine which states have the best protections against elder abuse. The prevalence of …

Is it better to use a joint ownership or a trust to pass down a house?

I have clients that always say they are going to add their child to title to their house to avoid probate. Its true when leaving a home to your children, you can avoid probate by using either joint ownership or a revocable trust, but which is the better method? If you add your child as a joint tenant on your house, you will each have an equal ownership …

Choosing Retirement Account Beneficiaries Requires Some Thought

While the execution of wills requires formalities like witnesses and a notary, the reality is that most property passes to heirs through other, less formal means. Many bank and investments accounts, as well as real estate, have joint owners who take ownership automatically at the death of the primary owner. Other banks and investment companies offer payable on death accounts that permit owners to name …

learn about social securities online tools

With the aging population becoming increasingly tech-savvy, the Social Security Administration (SSA) has moved a lot of services online. From applying for Social Security benefits to replacing a card, the SSA has online tools to help. To access most of the online services, you need to create a my Social Security account. This account allows you to receive personalized estimates of future benefits based on …

Who Should I Name as an Executor, Trustee or Agent?

You can name anyone to serve as executor, trustee or as an agent. It could be a family member, friend, or a professional. Here are a few things to consider before naming someone as your fiduciary in an estate plan. Do you trust this person? Trust in the person is paramount. Your fiduciary must be someone who you trust to serve your best interests and …