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Remember that when you set up a trust, your IRA cannot be retitled to your trust. The quick solution is to overcome this by simply changing the IRA’s beneficiary to their trust. Talk with an estate planning attorney to be certain that the IRA’s beneficiary is a trust that qualifies as “See Through Trust,” or else it can cost your families thousands of dollars in taxes by making it #EstatePlanningLawyer #IRA #401k #403b #Medicaid #VeteranBenefits #Trusts #RequiredMinimumDistributionRMD

Economic situation : Your income level has been modified or you’re retiring. Death of a trustee, executor or a guardian: If one of the individuals you designated dies or changes estate-planning step” #AssetProtection #Guardianship #EstatePlanningLawyer #WillChanges #Inheritance #Wills #Trusts

While you’re at it, put all other estate planning documents in place, like a will, trusts, powers of #AssetProtection #Will #PrenuptialAgreement #PowersofAttorney #HealthCareDirectives #Trusts #estateplanning

For those who die without a will or trust, their state laws determine to whom estate assets pass. First, know that some families are shattered by jealousy, animosity and a lack of trust when a parent A big reason family wealth erodes is a lack of communication, understanding and trust among family members and encouraging sound investing; talking about methods of transfer—including direct gifts, the use of trusts Wealth Transfer Plan” #AssetProtection #EstatePlanningLawyer #WealthTransferPlan #Inheritance #Wills #Trusts

Because of this, some folks chose to create revocable trusts and pour over their testamentary assets into their trusts. 101.5 (May 27, 2016) “What probate means for your estate” #Intestacy #Executor #ProbateCourt #Wills #Trusts

After working hard and saving your money wisely, you’re ready for a successful retirement. expenses that may catch you by surprise—and steps you can take to still come out ahead—in “Four Retirement or triple what it does when you start to retire. 4: Home Expenses. Planning for a successful retirement is no small feat. Enjoy the retirement you deserve, but be aware of potential surprises that many arise as you near retirement

She reportedly requested that Bremer Trust, a corporate trust company, be named administrator of her 26, 2016) “Prince ‘made no will’ for his $300m estate before death” #AssetProtection #Guardianship #TrustsandEstates #Probate #ProbateCourt #Inheritance #Wills #Trusts #estateplanning

Litigation,” usually beneficiaries wait until after a person has passed away to challenge a will or trust in Competency Litigation” #AssetProtection #Incapacity #ProbateCourt #Inheritance #Dementia #Wills #Trusts

net worth which would make you liable for federal estate tax, you should ask your attorney about a trust EstatePlanningLawyer #NoNup #DurablePowerofAttorney #WillCohabitation #PowerofAttorney #Wills #TaxPlanning #Trusts

This lets you name a person you trust to make financial and legal decisions for you if you can’t for Draft a Living Trust. A trust allows you to transfer property to your heirs without going through probate. A trust lets you specify when and how your heirs will receive assets, which is particularly helpful with money you earmark for that care will be spent, ask an estate planning attorney to create a detailed trust

Where will we live in retirement? How will we afford it? Golden Girls‘ Can Teach Boomers About Retirement.” All four women were near, at or above retirement age. Lesson #2: You might need a job after you retire. For boomers who don’t have a pension and didn’t save enough in a retirement fund, a post-retirement job

Many of us have invested in a 401(k) or some similar savings plan so that we can enjoy a comfortable retirement Kiplinger’s new article, “6 Tax-Smart Ways to Lower Your RMDs in Retirement,” says that unlike dubious You typically must begin taking withdrawals from your IRA, SEP IRA, SIMPLE IRA or retirement plan account Reference: Kiplinger’s (August 2016) “6 Tax-Smart Ways to Lower Your RMDs in Retirement” #AssetProtection