When it comes to estate planning, many Americans are unprepared for what comes after death. Two out of three adults do not have a will or other estate planning documents, according to the caregiving website Caring.com.
Locking up certain important documents and valuables in a bank vault could turn into a headache for you or your heirs.
Inheriting an IRA from a parent has a unique set of rules you need to know, which will help you make the most of the money you inherit and avoid a tax-time surprise.
For larger estates, a revocable trust is generally the most effective tool for avoiding probate. It involves some setup costs. However, it allows you to manage the disposition of all of your wealth in one document, while retaining control and reserving the right to modify your plan.