Estate Planning During the Pandemic
Pandemic The impact of Pandemic has affected humans in many ways, with quarantine and social distancing order, the pace of life has changed. While this unprecedented time has been undeniably difficult, it has given many people a chance to spend more quality time with loved ones. It has also provided a space for thoughtfulness, reflection […]
Estate Planning Terms
Estate planning Estate planning in simple terms is referred to as the manner in which you desire your affairs to be handled when you become old and incapacitated, and the manner by which your property (estate) will be disposed or distributed to your surviving loved ones after your death. Probate Many people have heard about […]
What are the Benefits of Reverse Mortgage?
Retirement is one of those periods where you relax with your loved ones and engage in those things that makes you happy. While retirement remains a good period in one’s life, being retired doesn’t exempt you from paying your regular bills and taking care of Yourself. A lot of retirees suffer because they failed to […]
What are the benefits of reverse mortgage?
Several retirees suffer because they failed to plan for their retirement. What are the best ways to save for retirement? Aside from stashing some cash into your 401(k) account, another amazing way to generate funds to cater to your needs is by obtaining a reverse mortgage. And as we progress, you’ll understand what a reverse […]
Inheritance tax: Probate changes create a total chambles as delays of 32 weeks emerge.
Inheritance tax costs can be managed by a legal professional who can be hired to manage an estate once a person has passed away. This person (or company) will be responsible for ensuring assets are passed down correctly and making sure the correct tax is paid but before this is done, they’ll need to apply […]
Good resources on Estate Planning Trust
What is Estate Planning Trust This is simply an estate planning tool used to transfer assets to your heirs, also known as beneficiaries, after your death. Once you have established an Estate Planning Trust, you can designate an individual or institution, known as a trustee, to manage the account for the benefit or your beneficiaries. […]
Can a Reverse Mortgage affect Estate Planning?
Estate planning is a very important plan done to ensure that one’s assets is shared and managed according to his wishes upon his death. While estate planning and reverse mortgage seems like two distinct terms, they can effect each other in some ways. If your retirement plan involves talking a reverse mortgage, it is best […]
S Corporation Estate Planning
What is an S corporation? “S corporation” stands for “Subchapter S corporation”, or sometimes “Small Business Corporation.” It’s a special tax status granted by the IRS (Internal Revenue Service) that lets corporations pass their corporate income, credits and deductions through to their shareholders. The S corporation status lets businesses avoid double taxation, which is what […]
What to do when a parent dies
Whether it’s expected or sudden, the death of a parent is a stressful time for most. While it’s hard to prepare yourself emotionally, there are steps you can take to manage the practical issues a bit more easily. Finances, for one, can feel like a maze of paperwork, digital records, passwords etc. As you’re preparing […]
Estate Planning for Millennial: The Key to Black Wealth
You don’t need to get too old to make estate plan. As soon as you become an adult you should definitely consider creating an estate document. Even if you don’t have a family or you are not married, you can still create an estate plan document for yourself. Though estate planning boast of several benefits, […]