How to Undo an Irrevocable Life Insurance Trust
So you took our advice and decided to form an Irrevocable Life Insurance Trust--then your situation changed and you want to change the beneficiary.  As the name indicates, an irrevocable life insurance trust’s terms cannot be amended after it is created. In the State of New York, “irrevocable,” means that... »
Exploring the Irrevocable Life Insurance Trust
In our article 5 Roles of Life Insurance You May Not Have Considered, we addressed the role that life insurance can play in an estate plan. This article explores a common vehicle which both excludes the proceeds of the insurance from your taxable estate and also ensures the proceeds are used... »
5 Roles of Life Insurance You May Not Have Considered
Life insurance can serve different purposes for different people. Sure, number one--providing for your loved ones--is pretty straightforward. But there are other roles life insurance plays and reasons why avoiding it can cause confusion and even lawsuits. Here are five benefits of life insurance: 1. To provide your loved ones with immediate liquidity... »
Probate vs. Non-Probate Assets: What's the Difference?
A lot of people assume that their will dictates what happens to all of their assets, and that's not the case. Your plan can be disrupted if you don't understand the difference between probate and non-probate... »
Average 401(k) Balances--and What You Should Have
Do you ever wonder how the amount you're putting away in your 401(k) measures up to what others have stashed? Fidelity Investments, which holds 16.2 million 401(k) accounts, put out the average and median numbers, both overall and broken down into age groups. While knowing what other people are... »
The Best Medical Alert Systems for Caregivers
A full review of the top medical alert companies, plus a guide to choosing the best system, brought to you by the Staff Writers at   According to the CDC, one out of every four older adults fall every year, and 20% of those falls are serious, resulting in a broken bone, head trauma... »
How to Write a Sympathy Note
Many people get caught up writing sympathy notes, thinking they need to say something profound and not coming up with anything. This often results in procrastination, which leads to not sending a sympathy note at all, which is one of the worst things you can do.  Amy Cunningham, who also... »
6 Tips for Wellness in the New Year
It’s 2019, and with a new year comes the age-old New Year’s resolution to lose weight. It’s why you may have noticed that your gym is unusually packed and you can’t get a spot in that yoga class. Don’t worry, it will ease up by February! I, too, have a... »
Can I Write My Own Will?
Many people write their own wills or purchase a last will and testament template on the web, but if the documents are not properly executed and witnessed, they may not hold up in... »
As CPAs, estate planners, and individuals alike gain a better understanding of the implications of last year’s changes to tax law, new strategies are forming to take advantage of current laws to protect assets. Here a couple of lesser-known trusts that can help you protect your estate from unnecessary... »
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