Category Archives: Wills and Estates

BENEFICIARY DESIGNATIONS NOT ALWAYS SIMPLE

The decision about how to designate beneficiaries for your company retirement plan, life insurance policies, and other assets might seem really simple.  Chances are you would like those near and dear to you to inherit any money you’ve accumulated during your lifetime, so making sure that happens should be as simple as writing their names […]

Categories: Wills and Estates

CREATE YOUR OWN DIGITAL ESTATE PLAN

Do you know what will happen to your digital property (i.e. online accounts, social media accounts) when you pass away?   It is a good idea to create a plan which will help someone, your digital executor, update your online accounts and sites upon your passing.  In most states, a Digital Executor is not a legally […]

Categories: Wills and Estates

DON’T NAME MINORS AS POLICY BENEFICIARIES

Sometimes, seemingly minor oversights can have tremendous consequences.  Take life insurance, for instance.  Most of us tend to name our beneficiaries when we buy a policy…and then never give the matter another thought.  That could be a mistake. Example: One of the biggest mistakes is naming a minor as beneficiary.  On the surface, it makes […]

Categories: Wills and Estates

WILL AND ESTATE PLANNING – WILL DO’S AND DON’TS

Don’ts Do not Designate a minor (child or otherwise) as the beneficiary of any life insurance policy, retirement plan, IRA, etc. By doing so, money will end up in a sequestered bank account, earning (currently) 1.5 percent interest. There are no withdrawals from the account without court approval. When the minor attains 18 years of […]

Categories: Wills and Estates