Estate planning documents are the only way to guarantee that your estate is managed according to your desires. This includes the time from when you may lose your mental abilities, to after your demise when your estate transfers to the individuals you have designated as beneficiaries.
Being an experienced Elder Law Attorney in Wisconsin, I’m often asked about how much harm outdated estate planning documents can be. And my answer to all of them is the same: a lot. The...
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Tag Archives: "Estate Planning Attorney in Wisconsin"
19 Mar
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Choosing a Beneficiary for Your IRA or 401(k) Is Part of Your Estate Plan
Choosing beneficiaries for your retirement accounts is different from selecting beneficiaries for your other assets like life insurance. With retirement benefits, you must know the influence of estate tax and income tax laws in order to choose the suitable beneficiaries. Though, taxes should not be the only determining factor in naming your beneficiaries, as ignoring the influence of taxes could result in making a wrong choice.
Additionally, if you are married, designation of beneficiary might affect the size of required...
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