Gen X: Running Behind
Working, Gen X Americans, between the ages of 43 and 58, are facing big hurdles on the path to successful retirement. For Gen X, the first generation largely reliant on company sponsored retirement plans and…
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Irrevocable Trust: Pros and Cons
Given the relative ease of set-up and their flexibility, revocable trusts are a popular and convenient estate planning tool. Despite the scarier name and implications, however, irrevocable trusts can also turn out to be useful,…
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Back Up Plan: Fiduciaries!
One of the most important aspects of estate planning is the designation of fiduciaries: the people entrusted to manage our affairs, in accordance with our intentions. Because life takes twists and turns, attorneys advise naming…
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Probate Bonds Explained
Courts frequently require the person appointed to handle the affairs of the deceased to obtain a probate bond, which acts as a guarantee that debts and assets will be properly handled in accordance with state…
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In Terrorem Clause?
When a will is created, an in terrorem clause, also referred to as a no-contest clause, can be included to prevent disputes about the provisions made in the will. Because disputes can drain time and…
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Plan Sponsor Fears: Litigation!
Retirement plan sponsors may find some consolation from knowing that they are not alone in their fears of being swept up in ERISA litigation, despite their diligence. Unfortunately, analysis finds that when fear results in…
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Retirement Readiness: Persistent Gaps
Plan sponsors will be heartened to know that not all the news is bad when it comes to retirement readiness: some studies find that retirement saving rates have been holding steady this year, with balances…
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Probate Vs NonProbate Assets?
The process of probate is somewhat like a funnel: upon death, assets pass through, so that decisions about where they end up are formalized, publicly and on the record. However, if beneficiaries have been named…
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Heartwarming Estate Plan
Good news still happens, and sometimes in very unexpected ways, as folks in Hinsdale, New Hampshire learned, upon the death of Geoffrey Holt, a long time resident, who lived in a mobile home park. When…
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