A recent study has found that many women have been severely impacted by the pandemic. However, investment levels for female investors contributing to their workplace retirement accounts increased dramatically and hit record levels in the last quarter of 2020. In fact, the average 401(k) savings rate for women in the last quarter of the year… Read More »
Posts By Author: Tiffany O'ConnellPage 22
Concerned About Passing Down a Substantial IRA? Here’s a Tip to Use Trusts
Charitable remainder trusts might give you more options to pass down a big IRA and enable you to exert more control over how those heirs inherit these assets. The stretch IRA is now gone but saving in a tax deferred employer sponsored retirement plan has always been an easy way to save for retirement while… Read More »
Do You Have Loose Ends with Your Estate Plan?
It is crucial to protect your finances, your family and yourself with a well drafted estate plan. Although it is advised that everyone over the age of 18 have a will that is properly drafted, fewer than one third of Americans actually have an estate plan in place. The event of your unexpected passing can… Read More »
How Long Does Probate Take in Massachusetts?
The complexity of any individual estate will determine how long it takes to get through probate. The time necessary to probate a will in Massachusetts will depend on numerous factors, particularly how involved the Internal Revenue Service is with regards to settling or closing out an estate. You will want to be prepared to speak… Read More »
Is It Wise to Name More Than One Executor?
An executor or personal representative is the person who is appointed to manage aspects of your estate once you pass away. It can be very difficult to determine who to instill in this role, leading some to think that the right next step is to name more than one executor to their overall estate. This… Read More »
When Should I Use a Limited Power of Attorney?
A limited power of attorney can be used for a number of different situations in which you are unable to be present or take action for an event. There are a couple of different examples when a limited power of attorney in Massachusetts could be useful. The first of these is if you become physically… Read More »
One of the Most Important Decisions You Can Make Is in Choosing a Guardian
Selecting a guardian for your loved one is one of most crucial aspects of estate planning for any parent. Leaving this up to the courts can add unnecessary stress and expenses to one of the most troubling times in your child’s life. In legal terms, this person is referred to as a guardian. It can… Read More »
Is It Time to Have an Estate Planning Talk with Your Parents?
More adult children than ever are dealing with the consequences of watching an older loved one struggle with cognitive issues. As a millennial, it’s easy to overlook the estate planning process as being something that’s top of mind for you but the pandemic has highlighted for many the importance of having proper estate planning documents… Read More »
What Information Do I Need to Create a Living Trust?
A living trust, also known as a revocable living trust, is an entity that is created to manage ownership of your assets. The person who creates this trust initially is known as the grantor and in many cases, will also serve as the trustee or the person who manages the assets inside the trust itself…. Read More »
What Does it Mean to Fund a Trust?
If you’re reading this article, it’s because you already know that a trust can be a great tool for accomplishing the transfer of assets and supporting your estate plan. But setting up the trust in and of itself is only the first step- your trust can only execute your goals if it’s properly funded. A… Read More »