If you leave your retirement account to the people you love outright, simply by naming them as beneficiaries on your retirement account rather than through a special trust, there are many risks you and your loved ones may face. It’s not hard to protect your retirement account for your beneficiaries with the right planning. We have summarized some of the risks for you here.
You may not have heard of a reverse mortgage before or know how it can be beneficial for you and your family. It is a financial tool that you can use to achieve your goals. Read here some of the advantages and disadvantages of a reverse mortgage.
Many people eventually face a period in life when they can no longer do for themselves. Daily living tasks such as walking, bathing, cooking, and managing household affairs are beyond their physical and perhaps even mental capabilities. Frequently, that period has not been planned for by the person or family members. Read here how you can prepare in advance.
When it comes to money, the first exposure we have to its management is in our families. That makes good money management practices a real gift that parents can pass on to their children. Here are some family traditions you may consider following and some that you may need to leave behind.
When facing life-threatening emergencies, there isn’t much time to think. You must be prepared to act and act fast, which is why you should be prepared beforehand. Here is a basic summary of the most-recommended supplies to give you some idea of what items you should have ready to go in case you need to get out of your home within minutes.
While just about anyone can fall for such scams, the elderly are the ones targeted most often. This is due to the fact that seniors are frequently lonely and eager to hear from family. By becoming aware of how these deceptions work, they’ll be much less likely to fall for them. Here is how they work and what you can do.
No matter how young your family is, estate planning is important and especially helpful in stressful times for your family. An estate plan will help make sure your loved ones are not stuck in court and/or conflict if anything happens to you. Here are a few things to consider as soon as you start a family.
Science now allows us to immortalize ourselves or our loved ones by turning cremated ashes into diamonds. This interesting way to create everlasting memories can help you keep memories of your loved ones close to you after they are gone. Read more about the process and materials that can be used for it here.
Here are a few things women should know about estate planning and how it can help protect the financial security of loved ones. Things like making less in their careers and having less in savings due to pay discrepancies and time taken out of the workforce to raise their families, estate planning is an even more important task.
Whether you are married or an unmarried couple, estate planning is critical. Although you may be living together like a married couple, you are not seen as one in front of the law. The state’s laws would provide no protection for your unmarried partner. Here are some estate planning documents that are an absolute must.