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The Professional Help for Managing an Estate
If you become the executor of an estate, while the final decision on matters may rest on your shoulders – it doesn’t mean you’re on your own. In all likelihood, you may serve as an executor a few times in your life; you’re probably not doing it professionally. So it’s crucial to surround yourself with …
Cleaning Out Your Parents’ House – With Your Siblings
Many children – whether they want to or not – take on the responsibility of cleaning out the family home when their parents die or need to downsize. This is a huge task, both physically and emotionally. You are not just dealing with “things,” but with decades of memories. And if you’re working with siblings …
New Parent? Now’s the Time to Get a Will
You’ve just had a child, and everything is brand new. Caring for another person – a little person – who needs constant attention is a dramatic shift in life. And you’re probably not getting as much sleep as you’d like. This is a pivotal moment in your life. With a new baby, your responsibilities have …
Where to Store Life’s Important Paperwork: Car Titles, Home Deeds, and More
Even in today’s digital world, the biggest and most important assets in your life still come with paperwork. If you own a home, you should have a physical deed to the house. If you own a car, you should have a copy of your car’s title. But where should you store these types of documents? …
Choosing a Legal Guardian: The Questions to Ask for Your Children
If you have underage children, then choosing who will be legally responsible for them if you are no longer able to is a difficult – yet immensely important – question. Deciding who should be your child’s guardian requires moving beyond pure legal or financial criteria and focusing on what is truly best for their long-term …
Received an Inherited IRA? What You Need to Know
After the death of a parent, you may be the beneficiary of whatever is left in their retirement account – whether it’s a 401(k), IRA, or something similar. Here’s how Vanguard explains the Inherited IRA: An inherited IRA, also known as a beneficiary IRA, is an individual retirement account that is opened when someone inherits …
Which Accounts Should Have Beneficiaries?
Setting up beneficiaries for your accounts is a core part of estate planning and can ensure your assets are distributed quickly and according to your wishes, often bypassing the time-consuming and costly process of probate. The general rule is that any account that allows you to name a beneficiary should have one. These designations typically …
How to Talk to Your Parents About Their Assets and Estate
Your parents are aging, and you’re worried about their health and how much longer they have to live. This is a such a common issue, but it’s not something everyone is comfortable talking about. If you will be responsible for managing their estate after they pass, how can you make sure you know all of …