Children are treated fairly when it comes to inheritance. But “fair” doesn’t always mean “equal,” especially if your family situation or assets are complicated. In some circumstances, giving kids equal inheritances may not be the best option.
Whether you're counting on Social Security to fund most of your retirement income or supplement it, you want to make sure you get all of the money you're entitled to.
The family vacation home is often a point of pride, a place for reconnecting and making memories. A vacation home, whether it’s in the mountains, near the sea, on a lake, or on a farm, can have sentimental as much as economic value.
On March 30, 2023, the Internal Revenue Service issued Revenue Ruling 2023-2, which directly impacts a wide range of irrevocable trusts, including grantor retained annuity trusts, qualified personal residence trusts, insurance trusts and other intentionally defective ‘grantor trusts.’
The time to start researching elder care facilities, experts recommend, is before you need one. There are numerous options for elder care, and you don’t want to be caught flat-footed in the event of an unexpected health crisis. Those sudden situations can force you to make a quick decision without the knowledge to make an informed choice.
A reverse mortgage can make it possible for older homeowners to remain in their home and supplement their retirement income. While you receive a steady influx of cash from a reverse mortgage, it’s ultimately a loan that needs to be repaid.
