Roth IRAs allow you to pass along as much wealth as possible to your heirs if they are structured appropriately. With the SECURE Act, the opportunity to use a Roth IRA as an estate planning tool increased significantly. This is because your beneficiaries ...
What Does It Mean To Say A Power Of Attorney Is Springing?
Writing a power of attorney is an important part of your estate plan. This ensures that you have appointed a chosen and trusted agent to step in and manage your affairs on your behalf if you're unable to do so. There are many different terms that can b ...
Appreciation’s Impact on Your Gifting Strategy
As you revisit your estate plan and consider making alterations heading into 2023, it's important to think about what you intend to pass on to your loved ones and whether or not this triggers additional tax consequences. The appreciation possibility of ...
How to Evaluate Life Insurance in Your Estate Plan
Life insurance is an essential financial product that can give peace of mind and options to your loved ones if something happens to you. While you certainly hope that your family members never need to turn to life insurance because of your unexpected pass ...
Do You Really Have to Name a Life Insurance Beneficiary?
When you pass away, there are many different assets that may be part of your estate and outside of your probated estate. These assets may pass on to your loved ones in accordance with your will or other documents such as a life insurance beneficiary form. ...
Should An Estate Ever Be Listed As An IRA Beneficiary?
You have the opportunity to decide several different options for naming an IRA beneficiary. You'll want to establish what is most applicable in your situation and what is most appropriate given potential tax and other consequences. Your wealth is typicall ...
Is It Possible to Pick a Bad Executor?
Your executor or personal representative is a person who plays a crucial role in the administration of your estate. It is not only important to pick someone who is capable of following through on this task, but also someone who will be able to handle all ...
Do I Need to Name a New Executor If I Recently Moved To Michigan?
Moving to another state should always prompt you to work with an experienced qualified estate planning attorney. If you just relocated to Michigan, there might be a few things in your estate plan that are no longer accurate for you. This is why meeting wi ...
Study Highlights Breakdown of Who Doesn’t Have An Estate Plan And Why
A recent study released by a financial services firm found that women are less likely to have an estate plan than their male counterparts. A total of 72% of women and nearly 60% of men responded that they don't have an estate plan. The leading reason f ...
How Many Digital Assets Do You Own?
A holistic estate plan includes not just your physical property, such as your collections, jewelry, art, homes and more, but also your digital assets. Digital assets is a broad term that incorporates most of your electronic communications and digital prop ...