The only time your Will would control who gets your IRA is if your estate is the beneficiary. You should think twice before naming your estate as the beneficiary of your IRA.
Posts Categorized: Asset Preservation
It is important to understand how liability works in order to plan how to avoid it.
A recent case demonstrates the pitfalls of poorly done asset preservation planning. Sadly, this is typical of most mass-marketed means of “bulletproofing” your assets.
As long as you follow the rules, it’s OK to plan to qualify for a benefit funded by your tax dollars.
Here is a fun and harmless way to mess with your adult children’s minds.
State estate and inheritance taxes have been in constant flux over the last decade. And it’s not just the list of states that has been changing, but in some states, the level at which the tax kicks in has been changing (both up and down). So it’s important to stay on top of this to avoid a surprise tax bill.
If you didn’t feel completely prepared for last weekend’s tsunami warning, here are some helpful resources to give you more confidence for the next time a disaster looms.
Trusts are effective vehicles for probate-avoidance, asset preservation, and tax planning.
Probate is generally a very good thing to avoid. Joint tenancy is sometimes touted as a cheap and easy way to do this. However, it is not a "fix" that should be embraced without an appreciation for what could go wrong with it. Consider the sad tale of Mom and Dad and their three sons…. Read More »
Hawaii recently enacted a new law effective July 1, 2012, extending tenancy by the entirety protection to transfers of real property to trusts.