If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.
When beneficiaries receive a payout from a life insurance policy, they typically don’t have to pay taxes. However, there are a few situations where a portion of the life insurance benefit is taxable to the beneficiary.
Lisa Marie Presley‘s surviving three children will reportedly inherit her Graceland estate.
The $100 million battle involving Larry King’s widow Shawn has heated up with the late television personality’s ex-business managers accusing him of having a secret bank account, RadarOnline.com has learned.
In the dark of the night, snuggled within the 4,000+ page Omnibus Bill meant to keep the machine of government well-oiled, lies a passage that may change the future of retirement saving.
When the 7520 rate is low—as it has been for 15 years—opportunities for good planning abound. However, what about when the rate is high? Few estate planners have needed to ask themselves that question until very recently.
Estate planning is an important, if unpleasant, part of life. It is suggested that people look at their plans at least once a year and update them when there are significant changes in life; such as divorce, the death of a loved one, or the birth of a child. The suggestion also works if there has been a fight within a family and the one leaving the estate would prefer to choose a new heir.
Equally sharing the wealth among the children isn’t always fair, such as when one sibling is the primary caretaker, or another is already wealthy.
Chris Hemsworth underwent genetic testing for an episode of his docuseries Limitless — and found out he has an 8 to 10 times greater chance of getting Alzheimer’s.
A last will and testament is essential for every adult. It establishes one’s wishes for distributing their property, whether real or personal, after death.
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