How Do You Gift Your House to Your Children During Your Lifetime?

Benjamin Long Beneficiaries, Heirs

“There are many ways to pass property on to children, including gifting the family home to them while you are still alive, bequeathing it to …

How Does a Will Work After Death?

Benjamin Long Beneficiaries, Wills

“Every estate plan should include three essential documents: a durable general power of attorney, a healthcare power of attorney and a last will and testament. …

What Happens to Social Security Payments After a Person Dies?

Benjamin Long Beneficiaries, Social Security

“The Social Security Administration should be notified as soon as possible after a beneficiary dies. Depending on your relationship to the deceased, you may be …

What Happens If You Don’t Name Beneficiaries?

Benjamin Long Beneficiaries, Guardians, IRA, Minor Children

“If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still …

Two Words Could Undo Your Entire Estate Plan

Benjamin Long Beneficiaries, Estate Planning, Inheritance

“’Per stirpes’ vs. ‘per capita.’ Making the wrong choice could cause an estate planning disaster.” No one relishes the idea of planning for their own …

Should You Add Someone to Your Bank Account?

Benjamin Long Beneficiaries, Power of Attorney

“I know of someone who was joint account holder with his dad for many years, then later his dad then appointed him as power of …

Avoid Estate Planning Mistakes

Benjamin Long Beneficiaries, Exemption, Taxes

“These all-too-common misconceptions can steer your estate plans in the wrong direction right from the start. Here’s how to overcome them and tips to build …

Different Trusts for Different Estate Planning Purposes

Benjamin Long Beneficiaries, Special Needs, Trusts

“Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that …

What Is a Qualified Personal Residence Trust (QPRT)?

Benjamin Long Beneficiaries

“When creating an estate plan, one important question to consider is how to handle the transfer of personal property, including your home. A Qualified Personal …

Inherited IRAs Require Careful Handling

Benjamin Long Beneficiaries, IRA, RMDs, Survivor Benefits, Trusts

“One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.” For those who inherit …