How Does My Annuity Fit Into My Estate Plan?

Selecting the right type of annuity for yourself is no small feat.  Of course, you’ve put in the research and planned with your financial advisors.  But, you might still be wondering what happens to those annuity payments upon your death. In addition to their benefits as a financial tool for your goals, annuities can have a positive impact on your beneficiaries after you’re gone — but only if you take smart estate planning steps to make sure your wealth ends up in the right hands. Types of Annuities Your annuity type affects how things pan out after your death.  In [...]

By |2021-09-14T15:29:07+00:00December 3rd, 2019|Categories: Estate Planning|Tags: , |0 Comments

IRAs, Annuities, and Guardianship – Providing for Your Minor Children After You Die

IRAs, Annuities and Guardianship: Providing for Your Minor Children after You Die Deciding on a guardian for your minor children may very well be the most vexing decision you’ll make regarding your estate planning.  Not only must you trust the appointed guardian to raise your children as you’d want them raised, but you also need that person to be financially responsible with your children’s inheritance.  For example, if you have an IRA or an annuity that you wish to pass to your minor children, how can you ensure those funds will be used properly—especially if the person you trust most [...]

Year End Estate Planning Tip #2 – Check Your Beneficiary Designations

With the end of the year fast approaching, now is the time to fine tune your estate plan before you get caught up in the chaos of the holiday season.  One area of planning that many people overlook is their beneficiary designations. Have You Checked Your Beneficiary Designations Lately? Do you own any life insurance policies?  If so, have you named both primary and secondary beneficiaries for your policies? How about retirement accounts – are any of your assets held in an IRA, 401(k), 403(b) or annuity?  Or how about a payable on death (“POD”) or a transfer on death [...]

By |2021-09-21T19:47:21+00:00October 9th, 2014|Categories: Estate Planning|Tags: , , , , , , , , |0 Comments

Will Your Revocable Living Trust Avoid Probate? It Depends.

If you’ve set up a Revocable Living Trust, congratulations!  You’re definitely on the right track. But…you’re only half way there. Many believe because they took the time to create a Trust, their estate will automatically avoid probate.  Unfortunately, this is a false sense of security. The key to probate avoidance is proper asset ownership, including the full funding of your Revocable Living Trust. What are Probate Assets? What assets require probate? Accounts and real estate titled in your sole, individual name [without a payable on death (POD) or transfer on death (TOD) designation] Accounts and real estate you own as [...]

By |2021-09-21T19:48:15+00:00July 1st, 2014|Categories: Estate Planning|Tags: , , , , , , , |0 Comments
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