Author: junger
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 …