What Assets are in an Estate?
January 27, 2022
This is an important question to ask, because the answer could tell you whether you need to worry about estate taxes, beneficiary issues or probate concerns.
Downs Law Firm, P.C.
Life Insurance
Your Life Insurance or IRA has No Beneficiary?
September 16, 2021
If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still funding these accounts with the right mix of investments for my goals and risk tolerance?
How to Make Beneficiary Designations Better
September 8, 2020
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Are My Beneficiary Designations Trouble?
May 27, 2020
Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset if the account owner dies. However, these forms can create confusion, unintended bequests, and family turmoil if not adequately monitored.
Ignoring Beneficiary Designations Is a Risky Business
October 7, 2019
We are programmed to contribute the “max” to our retirement accounts, but we disregard, or do not understand, the pitfalls of improperly filled-out beneficiary forms.
New Parent Estate Planning
October 3, 2019
There’s a lot of prep work to complete when you’re expecting a new baby. Expectant parents have a nursery to paint, strollers to buy, doctor’s appointments to attend, and nannies to hire.
Prove You’re an Adult with 10 Actions
June 3, 2019
I’m planning a major trip in 2020: It’s the year I turn 50, and I’m going to visit 50 places I’ve never been before. Among the fun itinerary research, I’m also taking care of more serious things, such as drafting a will and buying life insurance.
What is a Transfer on Death Account?
May 22, 2019
Transfer on death (TOD) accounts (also known as Totten trusts, in-trust-for accounts and payable-on-death accounts) allow spouses to pass small estates in a simple, convenient way.
Can I Get Cash From a Life Insurance Policy?
April 22, 2019
In tough economic times, people are sometimes left scrambling for cash to meet everyday expenses and lifestyle demands. Your life insurance policy is a possible source of funds – but should you tap into it?
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