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What Is a Revocable Living Trust and How Does It Work?
A revocable living trust is set up during a person’s lifetime to name their wishes for the distribution of their assets after their death. They can change the terms of the trust at any time.
How to Dissolve a Charitable Remainder Trust
Investors seeking to provide income for either their lifetime or a beneficiary, plus leave a legacy for a charitable organization, may consider establishing a trust as one means of doing so. There are various types of trusts, one of which is a charitable remainder trust, or CRT.
Can a Minor Be a Contingent Beneficiary?
If you have investment accounts, retirement savings, or a life insurance policy, you have the option of naming beneficiaries. Many parents name their minor children as contingent beneficiaries to ensure financial support. This has the potential to complicate the transfer of assets. Learn if minors should be listed as contingent beneficiaries and what alternative actions are available.
Should I Buy a Rental Property?
The internet abounds with articles and stories about real estate investments and their many advantages. Some articles even go so far as to place real estate investments in the same category as “get-rich-quick” schemes, though fortunately, Google seems to be clamping down on this type of content.
How Can I Give My Beneficiaries Tax-Deferred Real Estate Investments?
For some investors, one of the goals of building wealth and accruing a real estate portfolio is the intent to distribute it as a legacy to the following generation. With that in mind, you may want to consider how to effectively plan your bequests to manage the impact of taxes for your beneficiaries. Let’s take a look at some potential means of doing so. One term that you will hear when discussing estate planning is the step-up in an asset basis.
Who Can Override a Power of Attorney?
Anyone involved with estate planning will, at some point, run into questions concerning the Power of Attorney. This is important; it ensures that decisions and tasks end up in the hands of a trusted advisor, rather than the courts.
How Can I Invest in Properties in Different Areas of the Country?
For an investor building a commercial property portfolio, there are important considerations when crafting a balance of assets. For example, you may prefer to focus on a particular sector or class of real estate or develop a varied collection. In addition, if you seek geographic distribution in your acquisitions, there are some options for your method of pursuing that balance.
Do Annuities Have Beneficiaries?
Listing a beneficiary to your assets means providing a contingency plan in case something happens to you. Listing beneficiaries keep your assets out of probate court and makes passing an asset on to specific individuals a fairly frictionless process.
Do Payable on Death (POD) Accounts Go Through Probate?
Leaving instructions on what to do with your assets in case you pass can help relieve some of the burdens of managing financial affairs on surviving family members. There are a number of ways to do this. One is called payable on death or POD. This is basically a beneficiary for the account. But does that stop the account from having to go through probate?
NFTs as an Alternative Asset: What You Need to Know
NFTs, non-fungible tokens, have been around since 2014, but they really became more well-known in 2021. So much so that Collins Dictionary made NFT its word of the year in 2021. NFTs as a concept are pretty nebulous, so what are they and do they have a place in your portfolio?
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