Saving your IRA for your heirs

Article Abstract:

Tax-paying individuals should name the beneficiary or beneficiaries of their individual retirement accounts as soon as possible to prevent the IRS from collecting more of their assets when they die instead of going to their heir or heirs. It is advised that the spouse be named beneficiary.

Management, Individual retirement accounts, Retirement income

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Do you need a living trust?

Article Abstract:

Issues concerning living trusts, legal entities which transfer a person's property to trustees during their lifetime for their benefit and, ultimately, that of their beneficiaries, are discussed. Setting up a living trust is expensive.

Aged, Elderly, Analysis, Finance, Living trusts

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Why you need a power of attorney

Article Abstract:

The importance for adults of having a durable power of attorney is presented and described. This document allows someone to act on your behalf after your death or if you become incapable.

Usage, Durable power of attorney

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