Should I Add a Child to My Bank Account?
Would your loved ones have necessary access to your bank accounts after you die to help carry out your last wishes and handle arrangements?
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Would your loved ones have necessary access to your bank accounts after you die to help carry out your last wishes and handle arrangements?
There are many stories of strange conditions in wills and trusts over time. For example, the German poet Heinrich ‘Henry’ Heine died in 1856 and left his estate to his wife, Matilda, on the condition that she remarry, so that ‘there will be at least one man to regret my death’.
Whatever the reason, whether your life is a bed of roses or a getting-worse-nightmare, there are things you can do now to insure what you leave will go to who you want. And when. And in what portion or portions.
Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in the account, typically, in the event of the account holder’s death.
Trusts give parents of special-needs children additional options for extending care and financial assistance. However, you might need some expert help.
The fact is people’s names often change. People get married and divorced, or sometimes they just legally change their names.
Going straight from a busy work life to ‘retired’ can be difficult if you haven’t mapped out your path. Preparing yourself effectively involves both financial and lifestyle choices.
In my parents’ trust, they leave each other their share upon death, and then I become trustee when my last parent dies. I’m really concerned about this whole deal.
I have a sister, who I have not seen or heard from in 40 years, when she said she hated all of us and never wanted anything to do with us again. She even gave up her 5-year-old son for strangers to adopt and would not let my parents adopt him.
Before gifting a holiday property, an individual or couple (who can gift up to $22.8 million against their lifetime estate-tax exclusion through 2025), should find out whether their children want it.