For the Love of Your Family

Articles to LIFT Your Family

How can I best provide for my pet using estate planning?

Q: How can I best provide for my pet using estate planning? -Dog Lover A: Dear Lover: A beloved pet can be just like family, so it makes sense you’d worry about how they’ll be taken care of when you die or if you become incapacitated. Fortunately, with proper estate planning, you can rest easy […]

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My mother died with credit card debt. Am I responsible for paying that debt?

Q: My mother recently died with lots of credit card debt. Am I responsible for paying that debt? -Worried Son A: Dear Worried: Unless you’re a co-signer on the credit card, you aren’t responsible for that debt. As with nearly all other creditors, credit card companies cannot force surviving adult children to pay for a […]

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How does a living will work?

Q: How does a living will work? —Confused A: Dear Confused: Though it can be easy to confuse a “living will” with a “last will and testament” or a “living trust,” these estate planning documents are vastly different. A “last will and testament,” otherwise known as a “will,” directs who will receive your property upon […]

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What is long-term care insurance?

Q: What is long-term care insurance? —Unsure A: Dear Unsure: Long-term care (LTC) insurance covers your basic daily needs over an extended period. While many think only the elderly need such care, LTC covers a wide demographic, including those of all ages with chronic illnesses, disabilities, or other conditions. LTC can pay for long stays […]

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What is digital estate planning?

Q: What is digital estate planning? —Wondering A: Dear Wondering: Digital estate planning involves protecting your digital and online assets like cryptocurrency, websites, financial information, emails, photos and videos, social media accounts, etc. Proper digital estate planning can prevent huge hassles and losses over inaccessible accounts and/or missing passwords. For example, if the deceased owns […]

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Can I name multiple beneficiaries on my life insurance policy?

Q: Can I name multiple beneficiaries on my life insurance policy? –Curious A: Dear Curious: There are several options for naming beneficiaries on a life insurance policy. You can have 100% of the benefits go to a single beneficiary, or name multiple beneficiaries and divide the proceeds among them in whatever manner you choose. If you […]

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Can My Will Be Contested?

Q: Can my will be contested? Concerned testator– A: Dear Concerned: Creating a will should give you peace of mind. But if you are worried about someone contesting it, it helps to learn about the circumstances under which your will could be challenged. A beneficiary could contest a will if he or she had standing (a […]

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What Will Happen to My Pet in a Natural Disaster?

Q: What will happen to my pet in a natural disaster? Pet Parent– A: Dear Pet Parent: In the wake of natural disasters like the recent blitz of hurricanes to hit the Gulf Coast and Caribbean islands, the fates of countless pets are insecure. Understandably, many pet parents are now questioning what will happen to […]

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How Can Snowbirding Help Me Save on Taxes?

Q: How can snowbirding help me save on taxes? Recent Retiree– A: Dear Retiree: Snowbirding is a great way for retirees to escape the winter weather and can help mitigate high state income taxes at the same time. Income tax laws vary from state to state. California income tax can be as high as 13.3%, while […]

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What Does Transfer on Death Mean?

Q: What does transfer on death mean? Prudent Planner– A: Dear Prudent: Transfer on death (TOD) is a method through which you can name beneficiaries on an asset so that the asset transfers to that named beneficiary automatically upon your death. When all goes well, this asset will transfer at the time of your death, without […]

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What’s the best way to save for college?

Q: What’s the best way to save for college? –Planning Parent A: Dear Planning: Saving for college is a daunting task on every parent’s to-do list. Although we always recommend that families meet with a financial professional to devise a plan that considers the specifics of their financial profile, here are a few tips that […]

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