5 Essential Documents for Crafting a Good Estate Plan
The Bottom LineFive essential estate planning documents you need in your estate plan:WillPower of AttorneyHealth Care DirectiveBeneficiary Designations (Retirement Accounts & Insurance Policies)TrustsEstate planning can be challenging with complex legal documents, tax implications, and daunting questions. However, it is an important part of a well-rounded financial plan.
Protect Your Legacy: A Guide to Estate Planning
Estate planning can be complex. Many people believe they’re not “rich enough” to have an estate plan, but this couldn’t be further from the truth.
What to Do After a Parent Dies
Losing your parent is a profound event. While you may be experiencing unprecedented emotional impacts, there are important financial actions to take immediately. Protecting your parents’ legacy by managing their finances after their death is one of the most critical ways to honor what they did with their time on Earth. Unfortunately, during these times, handling legal and financial affairs can feel insurmountable.
Find Your Starting Point: How to Create a Financial Action Plan
Financial planning is all about living the life you want to live. A comfortable retirement might be your ultimate goal, but what does that look like for you? Beyond that, how do you expect to get there?
You need a financial action plan, and no plan is complete without a starting point. After all, you can only plan to reach a destination if you know from where you're starting.
What is Net Investment Income Tax & How Can You Plan For It?
You're not alone if you're unfamiliar with the net investment income tax (NIIT). While it's been around since 2010, it's not something that impacts everyone. However, if you have annual investment income and are a high-income earner, you could be subject to this tax—making it important that you understand what it is, how it’s calculated, and how you can plan for it.
5 Common Estate Planning Questions Answered
1. I’ve done well for myself, but I’m far from a Rockefeller. Why do I need an estate plan?Everybody needs an estate plan, regardless of wealth.