When an adult inherits money, there is often freedom in how they can use it, unless specified otherwise through a will or estate plan. However, when a minor inherits money, it must be managed through a trust account because they are deemed too young to manage it by themselves. While this is a common method of estate planning, it can also create complications for the person managing the trust. Take Caroline, for example. Her sister passed away and left $100,000 in a trust for her 12-year-old nephew, and sh ...

Although it’s a difficult topic, it’s important to know what happens to a mortgage loan when someone dies. If you’re the current homeowner, you should understand what to expect and even be proactive to help your loved ones seamlessly receive one of your most valuable assets: your home. If your loved one is passing or has passed away, knowing the next steps is crucial. Dig deeper: What are your financial rights following the death of a loved one? In this article: What happens to a mortgage when you die? ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. What is the benefit of having a trust versus a will? We own our home, have a rental property and we have no debt.  My husband and I are retired and both have IRAs, over $500,000 in the stock market and approximately $100,000 in CDs. We have three grown children – one is a stepchild. We currently have a will but are wondering if a trust is a better option. – Judith This is a good question that many people d ...

Core Insights - Betterment Advisor Solutions has partnered with Vanilla to provide independent RIAs with special access to an estate planning platform [1][4] - Advisors on the Betterment platform can utilize Vanilla's Estate Health Check at no additional cost, which assesses clients' estate situations [2] - The partnership aims to enhance client conversations regarding estate planning and serves as a prospecting tool for advisors [3][4] Company Overview - Vanilla, founded in 2019 by Steve Lockshin, focuses on simplifying and automating estate planning processes [4] - The company has received funding from notable investors, including Venrock, Insight Partners, and prominent figures like Michael Jordan and F. William McNabb III [4] Industry Trends - The partnership reflects a growing recognition that holistic advice, including estate planning, is essential in wealth management [4] - Firms are increasingly expected to integrate estate planning into their services to strengthen client relationships [4]

Losing a loved one can be one of life’s most difficult experiences. To help avoid making emotionally driven—and potentially harmful—financial moves following a loss, it’s important to be prepared and to have an estate plan in place before something happens. In this session, we cover tips on how to start these conversations with care and confidence, proactive steps to get organized, and other resources to help. 00:00 Introductions 01:40 Why you should financially prepare for the loss of a loved one 05:20 How ...

It’s a good problem to have: too much money saved for retirement and additional funds to leave to your heirs. Will you be one of the many who never spend it all? https://t.co/xJJ1iSkWm0 ...

Your will may not control all your assets. Find out how your ex can inherit from you if you own any that don’t pass through probate and what these assets are. https://t.co/cfYsm5oqEj ...

Retirement Planning Considerations - Being child-free provides greater flexibility in retirement planning [1] - Child-free individuals need to consider healthcare and estate documents differently [1]

Wealth Management Fundamentals - Wealth management fundamentals include investment planning, tax strategies, and estate planning [1] Financial Empowerment - The report aims to empower individuals to take control of their financial future [1]

Estate planning is a process that’s full of emotions. And full of questions. Where do you start? Who should be part of the conversation? And what are the key documents you need? On this episode of Money Unscripted, host Ally Donnelly and Fidelity’s Pamela Pirone-Benson break down everything from writing a will and setting up a trust to choosing your power of attorney and navigating estate taxes. Watch now. 00:00 Welcome to Money Unscripted 00:55 Why you should have an estate plan 01:24 What is an estate pla ...