Are you setting up an estate plan and searching for someone to name as the trustee for your estate? Naturally, you likely considered naming a family member or friend as your estate’s trustee, seeing as they are the most familiar with you and vice versa. In most cases, family and friends would not think to […]
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Emotionally Adjusting to Retirement
There are three emotional fear factors when people consider retirement: The change from a work identity to a post-work identity can be a slow process, especially if you have significant emotional connections to your career. Focus your efforts on changing your self-identification to meaningful nonworker roles. You can’t discard the worker role without replacing it […]
You Can’t Take Your Heirlooms with You
Suppose it is your responsibility to designate the next owner of a true heirloom. Above all, you want to avoid family strife and resentment and ensure it lands in the hands of someone who will respect and care for it. The Meaning of Sentimental Belongings Heirlooms like old photographs, deeds of sale, quilts, recipe cards, […]
Dead Hand Control: How Wills and Trusts Can Control Behavior
You may want to use your estate to influence your heirs in your absence. To a certain extent, this might be possible, but the process is delicate, and it requires well-designed structures. One way to do so is by creating a will or trust for your estate. With a “dead hand control,” wills and trusts […]
How to Choose the Right Probate Lawyer
Maybe you have been named executor in a will. Or, for an added wrinkle, suppose there is no executor or those named are either dead or unavailable. Compounding the problem, imagine you have decided the named executor is not up to snuff and must be replaced. In this article, we’ll provide valuable insight into how […]
401(k) and IRA Limits Rise for 2023
Good News for those with 401(k)s and IRAs The IRS has announced we will see 401(k) and IRA limits rise in 2023, and that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most 457 plans, and the federal […]
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