For disabled persons receiving financially based government benefits, supplemental needs trusts (‘SNTs’) can safeguard benefits and serve as an effective estate planning tool.
When you set up your estate plan it is important to coordinate the legal planning documents that you or you and your attorney create with the document provided by your retirement account custodian and/or your life insurance carrier called a ‘Designation of Beneficiary.’
Incapacity can occur because of illness or an accident. It can be temporary or permanent. That’s why every adult needs a power of attorney in place, once they turn eighteen.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
It is quite a tragedy when a loved one passes away. You may want to remember them by keeping sentimental objects from their home, or perhaps they wanted you to inherit a specific item.
Soaring inflation, interest rate hikes and the war in Ukraine have sparked ongoing stock market volatility. However, there may be a bright spot: the chance to save money on a Roth conversion.
