When someone dies and you may be in their will, when do you get notified? This article mentions the timing and some interesting points regarding keeping a will out of probate and open to the eyes of everyone. …Beneficiaries of a will must be notified no later than three months after the will is accepted for probate. In situations where the will is structured to avoid probate, however,…
CONTINUE READING >Love checklists and this is a pretty good one. An organized look from building/updating a personal financial statement, setting financial goals from short-term, mid-term to long-term goals. This checklist will get you thinking about a budget, credit cards, buying insurance and contributing to retirement accounts and much more. About SaverNotes, LLC Headquartered in Eden Prairie, MN., SaveNotes, LLC provides a unique alternative to stocks, bonds and CD’s…
CONTINUE READING >Thinking ahead is always a good plan, especially when it comes to Long Term Care (LTC). I had researched this topic back in my 40’s and found the following facts of interest: Most people who need LTC usually are in their mid-80’s. Those that are admitted into a care facility such as a nursing home or senior housing facility stay an average of 3 to 4 years…
CONTINUE READING >This article outlines the four stages of being an executor of an estate. It recommends… You must be a quick learner, wisely manage your time and maintain your wits during these four (stressful) stages of probate… It goes on to outline the steps at each stage to help you get organized. As I read each stage and steps it reminded me of lists/documents I have started…
CONTINUE READING >Kiplinger rated the 50 states for retirees and Minnesota ranked in the Top 10 of the “Least Tax-Friendly States for Retirees”. The article goes through the major tax components and shows what a retiree would pay in each category. Categories include: state sales tax, state income tax, taxes on social security income, how state real estate taxes compare to other states and estate taxes. For those…
CONTINUE READING >General Power of Attorney With a Will and Minnesota Health Directive done, the next item on my TO DO LIST was to generate a General Power of Attorney for the both of us. This document gives someone the authority to act on my behalf on the following types of transactions: Real Estate Transactions Tangible, personal property transactions Bond, share and commodity transactions Banking transactions Business…
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