Naming a Trust as the Beneficiary of an IRA

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Two topics that are often very confusing for people are estate planning and asset protection. Below is an example of a situation that was historically a common estate planning technique for estates with a value greater than $600,000, but has…

An Introduction to Estate Planning

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By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning…

Wills, Trusts, Powers of Attorney and Beneficiaries

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Each year during tax season, most folks scramble to gather records on income and expenses. Of course, we all know that with just a little pre-planning it doesn’t have to be that way. Why not take time now to review your will, trust, powers…

Avoid Disaster in 401(k) Beneficiary Planning

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It is said that a smart person learns from their own mistakes, but that a truly wise person learns from the mistakes of others. A recent court case (Cajun Industries vs. Robert Kidder, USDC Louisiana, April 26, 2011), highlights the importance…

Importance of Keeping IRA/401(k)/403(b) Beneficiary Designation Forms Up-to-Date

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We’ve written before about the importance of keeping your IRA, 401(k) and 403(b) beneficiary designations up to date. We’ve emphasized that updating these forms is easy, it’s free, it keeps the assets out of probate and it controls who…