Financial Planning Archives

My Estate is Beneficiary of My IRA

March 30, 2021

When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?

Do I Have to Accept an Inheritance?

October 2, 2020

No one has to accept inherited assets. Inherited assets can be disclaimed.

How Do I Survive Job Loss in My 50s?

September 3, 2020

Losing a job is almost always traumatic. In your 50s, job loss can be devastating — and devastatingly common.

What Should I Know about Beneficiaries?

August 11, 2020

When you open a financial account, you’re often asked to name a beneficiary. Simply stated, a beneficiary is someone who is entitled to the benefits of the account on the death of the account holder. For example, if you’ve purchased life insurance, you name a beneficiary who receives the benefits of the policy when you pass away.

Handling Inherited Investments?

February 20, 2020

Receiving an inheritance can be a double-edged sword. On the one hand, it’s overwhelming, thanks to the intense emotions associated with losing a loved one combined with the confusion about what to do with the newly acquired assets. On the other, an inheritance can re-invigorate your finances and create new opportunities for you and your family.

What Does an Estate Planning Lawyer Really Do?

January 15, 2020

Estate planning is a systematic process, which involves getting your personal and financial goals for the time you pass away or become mentally incapacitated. It is also known as a last will, and almost everyone does this planning for their family.

An Inheritance and Divorce?

December 4, 2019

An issue that frequently arises is the treatment of an inheritance received by a spouse during the marriage. The basic rule is that any property received via gift or inheritance during the marriage is exempt from equitable distribution.

How Do Prenuptial and Postnuptial Agreements Vary?

June 19, 2019

What is the difference between a prenup and a postnup? Do you need one? And if so, which is the right fit for your marriage?

How Will Morehouse College 2019 be Taxed on their Gifted Educations?

June 12, 2019

Billionaire Robert F. Smith made the 2019 class of Morehouse College graduates very happy over the weekend, when he pledged to pay off their student debt.

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.

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Financial Planning