estate planning Archives - Your Family Finances

Key Considerations for Smooth Wealth Transfer Planning

Key Considerations for Smooth Wealth Transfer Planning.

Components of a robust estate plan include a will, trusts, a power of attorney, and healthcare directives. A will specifies how your assets should be distributed upon your death. Trusts, which hold and manage assets on behalf of beneficiaries, can be tailored to meet specific needs, such as reducing estate taxes or providing for minor children. A power of attorney grants someone the authority to make financial and legal decisions on your behalf if you become incapacitated, while healthcare directives outline your medical treatment preferences.

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4 Reasons Estate Planning is a Must

Estate Planning / By Tim McMahon

Estate planning is the process of making plans for the transfer of your assets and properties after your demise. While it may not be a topic that people want to think about, it is an essential aspect of life that must be given due consideration. Estate planning involves the preparation of crucial legal documents such as wills, trusts, power of attorney, and advance medical directives.

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Navigating Estate Planning and Probate Law

Estate Planning / By Tim McMahon

It is an unfortunate fact that navigating the probate process can be very complex, and many people don’t know how to handle a loved one’s estate after they pass away. Luckily, with a little bit of research and some professional legal help, you should be able to quickly overcome those challenges so that you can move on with your life.

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Handling the Financial Burden of a Death in the Family

Estate Planning / By Guest Author

Dealing with a death in the family is stressful. But, when it comes to handling the financial burden of the funeral and other expenses, the already sad situation can seem unbearable. Here are some helpful tips you can employ to make your financial burden easier to handle so you can focus on the process of grieving when a loved one dies.

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7 Ways Today’s Families Can Build and Protect Their Wealth

Money Management / By Guest Author

plan on using wise wealth management techniques to build your estate so you can leave something for your heirs even if you never received anything yourself.

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Is Life Insurance for Pensioners?

Insurance, Life / By Guest Author

When it comes to life insurance there always seems to be a focus on newlyweds, young families and mortgages. However, the older generation can benefit as much from life insurance as the younger one. Taking Out Life Insurance Life insurance is sold to younger people to make sure that in the event of their death

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3 Reasons to Protect Your Family With Life Insurance

Life / By Guest Author

No one likes to think about death, but it is inevitable for all of us. If you have a family, one critical element of Estate Planning is to protect your loved ones with a life insurance policy. Whether you choose whole life or term life depends on your personal circumstances. The same principles apply to the amount of

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Planning Your Estate: 6 Things To Remember

Estate Planning / By Tim McMahon

One common misconception is that estate planning is only for those who are wealthy or have a large amount of assets to their name. Though not a pleasant topic, some basic estate planning is essential to ensure that your family is not faced with the hassle of court appearances and legal matters when you are

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Calculate how much you will need for retirement

What are Long Term Investment Accounts?

Estate Planning, Investing, Retirement, Saving / By Guest Author

Long-term investment accounts are used by investors as a way to earn returns that will be realized at some point in the future. Investors in these types of accounts are generally not concerned with earning money that will be used right away. Instead, the purpose of these accounts is saving for some need in the future. Types

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Is a Retirement Annuity the Answer for your Retirement Savings?

Estate Planning, Insurance, Retirement, Saving / By Guest Author

You’ve probably heard that investment plans and financial schemes like, IRAs and 401 (k), are the best ways to plan for retirement. This might be true in most cases, but not always. For instance if you have invested your maximum contribution for the year to your retirement account and you’re seeking to add a bit more more. What can you do? In this case, among others, investing in a retirement

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