Why Estate Planning Matters for Seniors When it comes to wills and estate plans, older Americans are more likely to have them than younger generations. Still, many do not. According to surveys, 19% of those over age 72 and 42% of those between 53 and 71 have no estate plan. Planning for the future can […]
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Whether your child is graduating high school or college, it’s important to help them plan for their financial future. You want to set a strong foundation for long-term financial stability by broadening their scope of financial literacy. Sharing the following tips can help prepare them. Budgeting Expectations and Boundaries Nearly one-third of young adults don’t
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Creating a living will ensures your future health care decisions and plans are respected. A living will, also known as an advance directive, is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself. Everyone should have an advance directive, as end-of-life situations can happen at
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Estate Tax vs Inheritance Tax These two forms of taxation relate to transferring wealth from generation to generation but are entirely different. The federal government levies a tax on all estates when the value meets a certain financial threshold. Twelve states and the District of Columbia levy additional estate taxes with separate thresholds. These residents
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Most adults have not made a will, let alone created an estate plan addressing their online profiles and accounts. As your Digital Footprint grows professionally and personally, taking charge of your digital assets and plans for them after you die becomes important. Some social media companies like Facebook, Instagram, and Twitter provide users with options
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