Living Trust and Estate Planning Hypothets Based on Actual Family Issues
In light of the recent U.S. Supreme Court case of Clark v. Rameker, creditors will begin to zero in on Inherited IRAs.
If you like gambling with cards, don't carry that over to your designated IRA or Retirement fund beneficiaries. We all know a full house trumps a straight in poker. But did you know this, a Retirement form trumps a Will or Trust? That's right. If you are considering the designation of your Retirement fund in a Will don't waste the ink. It won't work. There are cases in which a divorcee failed to change his or her Retirement fund beneficiary from a now divorced spouse.
Attention all procrastinators! We need to talk. There is something you have been putting off and don't quite understand. Over the next thirteen weeks, we are going to be talking about Estate Planning. That's right, the subject you've been postponing because it makes you face the reality of life, which includes aging, death and possibly, incapacity. Oh, sorry. It's not a good time? Okay, when will it be a good time? On the way to the hospital in the back of an ambulance? Hooked up to a machine? After that catastrophic stroke?