From: www.barrons.com
With a rise in “gray divorces” in recent years, it’s only natural that remarriage has become more prevalent among seniors. But people tend to be lax about updating their estate plan.
It’s easy to have an estate plan fall out of date following a remarriage, says Steph Wagner, director of Women & Wealth at Northern Trust, but the…
Go to page: Estate Planning Details to Keep in Mind
From: REAP, LLC. | Retirement & Estate Advisors & Professionals
What does your estate plan look like?
If your plan is incomplete, the government will provide one for you. But most people want to make their own decisions about who will inherit their home, investments and bank accounts, not to mention take care of their pets and minor children.
If you want to follow the best practices for…
From: Blase & Associates, LLC
The disparate federal income tax treatment between trusts and individuals, that has existed since 1986, has grown even more pronounced than it was prior to the passage of the 2017 and 2019 year-end tax laws. This article will examine the problems which currently face us and will propose solutions to these problems.
Part I: Impact of the 2017 Year-End Tax Changes
As a result of the…
From: billhigh.com
Has your spouse or a family member ever said to you, “What do I do when you’re gone? Who do I call? Where do I find all the family’s information? How do I take care of things?”
I know my wife has posed such questions to me. Making sure your loved ones know…
From: www.fa-mag.com
With the SECURE Act now signed into law, it is critical to understand how it changes how we approach estate planning. Specifically, the SECURE Act replaces the “stretch” IRA from inherited retirement accounts, which allowed beneficiaries who inherited retirement accounts to choose to take distributions over their life expectancy. Under the SECURE Act, retirement assets must be distributed out of the…
From: wsj.com
Many have useful tips for gentle persuasion while others spell out a more direct approach
Want to talk about plans for when you die?
(Silence)
I guess not.
That exchange, unfortunately, describes how many adult children and their parents approach—or, rather, fail to approach—the subject of estate planning. Few families, of course, enjoy talking about money. Introduce the idea…
From: www.wealthmanagement.com
The end and beginning of each year is always a challenge for trustees. Usually state-regulated trustees will complete administrative reviews to ensure trustees are meeting all their fiduciary duties. It is also a time for trustees to ensure the asset allocation and rebalancing of trust investment portfolios comply with the Prudent Investor fiduciary rules. This can be an ordeal and…
From: www.aaepa.com
In the past, trusts often were drafted with little flexibility. Now, more and more, trusts tend to be drafted with increased flexibility and there are even ways to change trusts which have become “irrevocable.” There are several ways to modify a trust, including by a Trust Protector, by a procedure under the state’s version of the Uniform Trust Code, by decanting under…
By Robert C. Merton | Harvard Business Review
Corporate America really started to take notice of pensions in the wake of the dot-com crash, in 2000. Interest rates and stock prices both plummeted, which meant that the value of pension liabilities rose while the value of the assets held to meet them fell. A number of major firms in weak industries, notably steel and airlines, went bankrupt in large…
From: Indiana University Foundation
The Indiana University Foundation has put together an estate planning guide coursebook and record book as resources for retirement planning.
To access the estate planning coursebook click here.
To access the estate planning record book click here.
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