The SECURE Act killed the stretch IRA but instead of mourning, advisors can help clients make up the loss.
Remember that a will goes through probate, so a husband and wife typically try to avoid it by using joint ownership or beneficiary designations. However, they’re often mistaken by believing the will still controls their estate.
We have all seen the heartbreaking stories about people dying in hospitals from Covid-19 without family present. We’ve also heard about the tragic decisions healthcare workers must make when time and resources are spread thin. Compounding these sad situations is that often the person who can speak for the individual suffering from Covid-19 is not present because of hospital procedures designed to prevent contagion.
It’s hard to plan for next week, let alone the future, when our environment, the advice from the experts and indeed the outbreak itself, seems to change on a daily basis.
Steve Bing — who inherited $600 million from his real estate developer grandfather at the age of 18 — only had about $300,000 left to his name at his death, leaving him relatively broke.