Short, simple action steps to help families like yours avoid probate, save on taxes, and be prepared when “the time” comes. It’s written with heart, a little humor, and zero fluff. If you want practical tips on being a good steward of your parents’ legacy (and your own), sign up here! MUST CONFIRM SUBSCRIPTION - CHECK SPAM FOLDER AFTER SUBSCRIBING FOR THE LINK!
Intentions, Wills, & the Beneficiary Form: A Love Triangle You Can Avoid
Welcome to the Fun Side of Finance!Navigating Your Financial Future Doesn't Have to be a Headache Hey there, What’s worse than a messy family drama? A messy beneficiary form, because unlike your parents, the IRS’s feelings for you are very conditional. Picture this: that 401(k) from 20 years ago that still lists Dad’s ex-wife as the beneficiary. Guess who gets the money? Yep. The ex. And no, you don’t even get to send the IRS a strongly worded text. It’s automatic. The will won’t save you. Your heartfelt “but that’s not what dad meant!” won’t save you. The beneficiary forms always win. Here’s your quick “uh‑oh, let’s fix this before Thanksgiving dinner gets weird” list of documents to check:
Even if your parents have a will or a trust, one outdated name can throw everything off. And good luck prying that money back from Cousin Jerry. He’ll be clicking “buy now” before you can even finish this sentence. Bottom line: Beneficiary forms are the easiest estate plan your parents already own. Let’s just make sure they aren’t accidentally leaving everything to an ex from decades ago. You know the one… the infamous double-dipper who ruined every family chip bowl! Want to be sure? Talk soon, |
The Formula Wealth Report
Short, simple action steps to help families like yours avoid probate, save on taxes, and be prepared when “the time” comes. It’s written with heart, a little humor, and zero fluff. If you want practical tips on being a good steward of your parents’ legacy (and your own), sign up here! MUST CONFIRM SUBSCRIPTION - CHECK SPAM FOLDER AFTER SUBSCRIBING FOR THE LINK!
Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache Hey there,Here’s something you don’t hear every day: long-term care costs can sometimes be tax-deductible. No, really! If you’re helping your parents with elder care, assisted living, or medical appointments, there’s a chance Uncle Sam might actually give you a little relief—if you know how to ask. What counts? Memory care In-home caregivers Assisted living (when it’s for medical need) Even mileage to...
Smart Money, Made Simple Navigating Your Financial Future Doesn't Have to be a Headache You don’t need a Rockefeller-sized yacht to need a trust. A regular ol’ family home will do the trick! If your parents own a house, have property out of state, or want to avoid turning their estate into a courtroom drama, a revocable living trust is a no-brainer. Here’s why: Without a trust or named beneficiary, assets titled solely in your parent’s name go through probate. With a trust? Assets pass...
Navigating Your Financial Future Doesn't Have to be a Headache! Hey Reader, Let’s be honest: most families aren’t totally sure if their financial plan is complete. You might have a will... somewhere. You might have 401ks... scattered across 3 firms. And when it comes to taxes, investing, and retirement planning? Let’s just say the phrase “we should really deal with that” comes up a lot. Enter: The Life Audit It’s a short-term, flat-fee planning engagement designed for families who want a...