March 22, 2017

Just Lost Your Spouse? What to Do?

One of the hardest situations anyone faces in life is the loss of a loved one, and when that loved one is a spouse, it can leave you baffled beyond just your emotions. Unfortunately, the financial chaos that ensues can be just as overwhelming as the emotional void when you’ve just lost your spouse. That’s why preparing for the inevitable helps you heal faster, at least when it comes to the financial burdens you face.
April 27, 2016
Beneficiary of Your IRA

Should a Trust be the Beneficiary of Your IRA? Pros and Cons

Should a Trust be the Beneficiary of Your IRA? Pros and Cons For many Americans, the assets in their Individual Retirement Account represent a significant portion of the wealth they hope to leave to their loved ones. You may have heard that creating a trust and naming it as the beneficiary of your IRA is a good way to direct how your assets are distributed after your death and force your heirs to “stretch” the IRA for generations. However, trusts and inherited IRAs are complex vehicles that have a lot of details to get right. Here are some of the pros and cons of naming a trust as a beneficiary of your IRA: Advantages to Naming a Trust as an IRA Beneficiary While directly inheriting an IRA is perfectly fine for many heirs, it can be inappropriate in some situations. Under these circumstances, a trust may be able to help […]