You’ve worked hard all your life. You may not have started with much, but now you have a comfortable life. You have a family you love and you no longer have to clip coupons, though you may still out of habit. When your children were growing up, you had work and responsibilities and were not … Read more
Probate is the legal process of settling a deceased person’s estate. It involves the distribution of assets and the payment of debts and taxes. The probate process is usually initiated by filing a petition with the court and is supervised by a court-appointed representative known as the executor or administrator. One of the main objectives … Read more
He was a high school dropout who started by selling encyclopedias door to door. Through determination and good fortune, Super Bowl Champ, Jack Kent Cooke amassed an estate of $1.3 billion by the time of his death at age 84 in 1997. He lived his dreams, owning a successful NFL franchise, the Washington Redskins, and … Read more
Are you prepared? The majority of Americans are not. In the event of illness, injury, or death most American families would be in a real mess. Would yours be? Check out the estate planning percentages below: In this case, being part of the majority is not a good thing. A little thought and effort now … Read more
Dying intestate refers to a situation where a person passes away without leaving a valid will. In other words, the person has not made any legal arrangements for the distribution of their assets after their death. In this case, the laws of the state in which the person resided at the time of their death … Read more
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2023 is just starting, it’s not too early to think about planning for whatever it may bring your way.
As inflation continues to rise, more and more individuals seek ways to stretch their dollar further. One of the many factors to consider is their overall tax burden. Sometimes, simply moving to another state, if otherwise feasible, can make a significant impact on an individual’s bottom line. Wonder how your state measures up?
With so much to think about, it’s easy to put incapacity planning on the back burner. This is even more so the case if you’re young and healthy. But that’s no reason to put it off. You need a comprehensive incapacity plan that can provide you and your family with peace of mind. Here are … Read more
As more and more Baby Boomers retire, many wonder where they should spend their golden years. Each person’s unique facts and circumstances should inform that decision, including, without limitation, the various taxes imposed by each state. The findings in this article might surprise you.
A complete list of your assets is an essential starting point in making any decisions about those assets, whether financial portfolio decisions, or estate planning decisions. Without a complete list of your financial assets, a financial planner cannot know how to change your assets to achieve the proper asset allocation to meet your risk, return, and diversification … Read more