Below you'll find a list of all posts that have been tagged as “estate planning”
Even though we are financial advisors estate planning plays a major role in our advisement process. Wealthnest’s own Certified Financial Planner, Kevin Foster reviews several missteps he has seen in his experience when it comes to intertwining your financial and estate plans.
Tips for organizing your estate to preserve your assets for your designated beneficiaries. Estate planning is not an exercise relegated to the wealthy alone. Indeed, anyone who wants to plan for the distribution of their assets or exercise of your responsibilities after you die or become incapacitated should pursue estate planning. And for those who are wealthy with many assets, …
Keeping an eye on your financial health during a divorce is essential. This article outlines some important topics to consider how divorce may affect your finances. Divorce can be a complicated and challenging process in which details are easily overlooked. Protecting your financial health during this time is crucial, and no one should enter this process without a trusted attorney …
Also referred to as a conservator or protector. A guardian is named to serve for the benefit of a minor child or an adult who has become incapacitated or is unable to act on their own behalf. The guardian is responsible to the individual requiring guardianship. The role requires patience, compassion and sensitivity. By Definition: A guardian is a person …
No one likes to consider the possibility of becoming mentally incapacitated due to age, accident or illness, but the fact is that almost every family will eventually face this kind of difficulty. Everyone should consider naming an agent to act in their best interests, in case they become unable to make their own decisions over the course of their lives. …
An executor ties up personal and/or business affairs after someone passes away. The executor may also be referred to as a personal representative in some states. The executor may include more than one person or, in fact, a financial institution who stands in for the deceased party. The executor will gather the assets, settle any business affairs, file all necessary …
The most important thing to know about caregiving is that you do not need to do it alone. Getting support for your role as a caregiver is your first priority. Consider asking for help from other familymembers asking for help from your community asking for help from friends andneighbors sharing your struggles with managers,coworkers and friends taking care of yourself …
Understanding the basics of Medicare A, B and D will help you take necessary steps on schedule. It will also help you deal with problems in the system when you must. Begin the enrollment process in advance of your 65th birthday, or immediately after any other qualifying event, in order to become eligible for benefits as soon as possible. Retirement …
The Tax Cuts and Jobs Act raised the lifetime exclusion limits for estate and gift taxes from roughly $5.5 million per individual to over $11 million. Also, the annual gift tax exemption was raised to $15,000 for individuals & $30,000 per couple. If the gift exceeds the annual exemption, the amount is applied against the donor’s lifetime gift limit. Essentially, …
A self-created last will and testament may lead to problems. As an early step in estate planning, you may be tempted to write your own will. There are some good reasons why you shouldn’t. While do-it-yourself wills may be cost-effective and make the process of will creation relatively simple, they also have shortcomings. DIY wills tend toward the basic and …
