Estate Planning

Should I Update My Estate Plan?

Posted on: May 12th, 2012
Yes, absolutely. No question about it. I could make this one of the shortest and easiest to read posts, but allow me to elaborate on my answer....

How Do I Fill Out The Beneficiary Designation Form For My IRA or 401(k)?

Posted on: May 9th, 2012
Beneficiary Designation forms are the instructions for the custodian of the IRA or life insurance company that tell them what to do with the funds in the accounts when it is time to distribute them. Life Insurance, IRAs and other Qualified Plans, and Annuities pass by beneficiary designation form....

Naming A Trust As The Beneficiary Of An IRA: Is It A Good Idea?

Posted on: May 6th, 2012
On Friday, April 29, 2011, the IRS issued Private Letter Ruling (“PLR”) 201117042. An ancillary issue in this PLR was whether an IRA could be titled in the name of a revocable trust during a Grantor’s lifetime. The IRS said that an IRA could not be held in the name of a Trust....

What Is A Declaration Of Guardian, And How Does It Work?

Posted on: April 28th, 2012
A Declaration of Guardian is a legal document where you tell the court who you want to serve as your guardian if there is ever a guardianship proceeding for you. There are two types of guardians: Guardian of your estate, and guardian of your person....

What is an Advance Directive, or a Living Will, and How Do They Work?

Posted on: April 27th, 2012
An Advance Directive (also known as a Living Will) is a legal document that communicates your desires about future medical treatments, or the lack thereof, when you are unable to communicate on your behalf. Ordinarily, this document outlines your desires about whether you do or do not want life support in the event that is the only method that will sustain your life....

What Is A Healthcare Power of Attorney And How Is It Used In Estate Planning?

Posted on: April 21st, 2012
Like a Power of Attorney for financial matters, a Power of Attorney for Healthcare allows the “Principle” to name someone to act as their “Agent” when healthcare situations arise...
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