Below is a fictional letter I drafted to anyone’s former partner because I know only too well what can happen when estate planning is not done properly. I hope you enjoy this outreach to an ex-spouse or partner and consider taking steps to do everything this letter suggests for yourself. You can even send the […]
Category Archives: Legal Planning for Families with Kids
What You Don’t Know About Your 401(k) Can Hurt You!
You have a 401(k), right? Sure you do. And you have one (or more) because everyone tells you it’s a heck of a deal. But has anyone ever told you that your IRS qualified fund strategy could end up being a horrible weight on your retirement?
Every January, you opt in to contribute to your 401(k) the maximum allowed that year. You’ve been told over and over that this type of retirement fund will become a nice big nest egg for your retirement on dollars you never paid tax on! Isn’t that something?! What could possibly be wrong with stiffing Uncle Sam every year for the taxes you owe on that maximum contribution?
Well, a lot, actually.
Photo by Nicki Varkevisser on Flickr (http://www.flickr.com/photos/clickflashphotos/)
Picture this…
How Do I Name Guardians for My Kids?
Making a decision about who would raise your children if something happened to you can be puzzling and even dramatic—especially for a married couple trying to agree on potential guardians. Rest assured, you know your children better than anyone and you’re uniquely qualified to make the decision in a way no one else is—not even a judge. So before you throw your arms up with an “I have no idea who to pick!” here’s a method to come to a decision that you can live with. REMEMBER: guardian nominations can be changed and should be changed over time as your children grow and their needs change. Don’t be afraid to make a decision and then change it later. That’s the natural progression of childhood in operation.
Does this kid looks like he needs a special kind of guardian? Oh yeah.
Probate? What’s the Big Deal?
The Down Low on the New Tax Law and Your Estate Plan
Tax laws are confusing on a good day–what you can deduct, what you can claim–And with all the recent changes to the laws, it’s almost impossible to know if you’re doing the right thing. Hopefully, this will help. Here’s the straight scoop on how the new tax law affects your estate plan: A Quick and Dirty […]
