About 90 million Americans depend on life insurance for financial protection and retirement security.1 An almost equal number say that they either do not have any life insurance or need more life insurance.2 More than one-third say they plan to purchase coverage in the next year.3 With very few exceptions, life insurance can benefit [...]
According to a new study from LIMRA and Life Happens, two nonprofit industry trade associations, a record-high number of American adults—approximately 102 million—either do not have life insurance or do not have enough coverage.1 Misunderstandings about how much life insurance costs and what type to purchase are the largest barriers to purchasing a policy. [...]
Too little estate planning can put your heirs in a bind and tie up your estate in time-consuming and costly probate litigation. But as the legal saga of Aretha Franklin’s estate shows, too much estate planning—in particular, planning that introduces uncertainty about your final wishes—can also be problematic.After her death, there are lessons to learn [...]
We are at the precipice of what is being called “The Greatest Wealth Transfer in History,” as baby boomers are set to pass down $84 trillion to younger generations.1 Every parent wants to see their children succeed. But some may wonder whether an inheritance will help promote or hinder the future success of their children. [...]
Lucille Ball was the queen of television comedy to an older generation of Americans. Today, more than 70 years after I Love Lucy premiered, reruns still air on late-night networks, making it the longest-broadcasted TV show of all time and endearing Ball to a new generation of fans. Rankings of the best I Love [...]
Some of us may enjoy games like fantasy football that allow us to assemble our own star team with the players we think will provide the most value. While fantasy football is fun to participate in, have you thought about the importance of establishing your own dream team? Just like in fantasy football, each player [...]
As with any roll call, when assessing an estate plan, several legal tools, or documents, should be in attendance to accomplish the goal of a complete and comprehensive plan. You have likely heard the term estate planning, but you may not be familiar with which legal tools typically comprise a complete estate plan. We outline [...]
Estate planning is important for everyone. It is about protecting yourself, your loved ones, and your hard-earned money (even if you do not have a lot of it). However, the numbers do not lie: most people do not see the importance of estate planning. Whether you need to create an estate plan or update an [...]
When a person dies, what happens next depends on whether the deceased person had any foundational estate planning documents such as a last will and testament (otherwise known as a will) or trust, who the living relatives are, and their relationship to the person who died. If the deceased person did not have a trust [...]
