Improper designations of life insurance, annuity, and retirement account beneficiaries can turn a simple situation into chaos. This expensive and cumbersome process can be avoided with proper powers of attorney in place. This may result in unnecessary estate taxation when the first of the two spouses dies.Family additions, deaths, and divorce. households likely to pass along nearly 60% of the nation?s wealth within the next 50 years.With that kind of money on the table, having a ?do-it-yourself? estate plan?or even worse, none at all?can lead to potential big-dollar mistakes.A good estate plan allows for transfers of wealth [...]
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