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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