Financial Planning

More in Financial Planning

How to Put Assets Into a Revocable Trust

A revocable trust provides a means of placing all of your valuable assets into a trust fund to be managed for your benefit. It is common for the grantor, who is the person creating the trust, and the trustee, who is the person who administers the trust, to be the same person in ...

How to Set Up a Family Trust Fund

A family trust fund is a type of revocable living trust in which the grantor transfers assets to members of his family. Setting up a family trust to transfer your assets to your relatives offers an advantage over simply leaving your property to them in your will. You don't have ...

How to Leave Annuities to Minors

Annuities are contracts in which you trade money, or premium, to an insurance company in exchange for the promise of a stream of income. The stream of income can begin now (immediate annuities), or at some point in the future (deferred annuities). The rules for passing on ...

How to Leave Stocks to Someone

Leaving your stocks as an inheritance for someone special, such as a spouse or a family member, is an important task. This is especially true if you have a large number of stocks that have a high monetary value. Selecting the most appropriate way to leave your stocks to that ...

What Is a Split Trust?

A split trust, or split-interest trust, is a form of trust account that has both charitable and non-charitable beneficiaries. This gives flexibility to individuals who want to open a trust but have multiple categories of interests that they would like to aid through the trust. ...

How to Figure Out How Long It Takes an Investment to Grow

If you invest money with the intention of funding a certain purchase, such as a fancy new car or a new home, or accumulating a retirement nest egg, you can calculate how many years it will take to reach your investment target if you know the annual rate of return. However, since ...

How to Leave an IRA to My Wife

Leaving your Individual Retirement Account to your wife is as simple as naming her as the beneficiary on your IRA account. The named beneficiary on your IRA account is the person who will receive the funds when you die. You should have a will, but you don't need a will or a ...

How to Make Someone Executor of Your Estate

You can’t take it with you, so you’re going to have to find someone to manage your affairs after you’re gone. Whether you’ve amassed a sizable estate or it’s more modest, you will still likely have some assets and other details that need organizing ...

How to Transfer Title to Revocable Trust

A revocable trust, also called a living trust, is a legal document you control as a trustee that holds your assets until your death or incapacitation. At that time, your successor trustee takes over handling your affairs. When you die, the assets held in trust will not be ...

How to Refinance a Motorcycle

If you've decided to refinance your motorcycle to get a lower rate and thus lower your payments, you'll find that the process and financial requirements for refinancing are basically the same as those you dealt with to get the original loan.

Penalty for Withdrawing From a 529 Plan

The federal government gives tax advantages to investments made in 529 plans, which are operated by states and educational institutions to help individuals save for college. The Internal Revenue Service doesn't offer a deduction for contributions, but the money does grow ...

Contributing to a 529 and a Coverdell in the Same Year

Coverdell educational savings accounts and 529 plans both offer tax-sheltered accounts to save for future education expenses. Coverdells allow you to use distributions for educational expenses of all levels, including primary and high school costs. On the other hand, 529 plans ...

Penalty for Early Withdrawal From 529 Plans

A 529 plan offers tax-sheltered growth for college savings. The plans are offered by states and either allow you to buy future education credits at particular schools or invest money which you can then use at any school. The taxes and penalties on 529 plan distributions depend ...

Pros & Cons of an Irrevocable Trust

Estate planning involves a lot of choices. Do you want to leave a will, or would you rather that your estate avoid the probate process? You can achieve the latter by creating a trust to distribute your assets when you die, but the choices don't stop there. There are many types ...

Life Estate Laws

A life estate is one way of avoiding probate of your property when you die, but it doesn't necessarily have to be used for that purpose. You can set up a life estate by creating a deed that automatically transfers your property to someone else at your death, allowing you to live ...

How to Finance a Funeral

With the cost of some funerals running more than $10,000, making arrangements to pay the expenses might be difficult. Typically, funeral directors want payment up front. If no one preplanned the funeral, the family is left trying to gather the money to pay for it at a time of ...

How to Name a Grandchild as a Joint Annuitant

Naming a grandchild as a joint annuitant on an annuity is an increasingly popular way to leave a legacy behind. By naming a grandchild as a joint annuitant on a lifetime income annuity, a grandparent can literally arrange to leave the young person a holiday or birthday present ...

What Makes You Financially Solvent?

Financial solvency measures your ability to take care of your financial obligations. Even if you pay all of your bills on time, you must evaluate your overall financial health to determine whether you can sustain growth or whether you're moving in the direction of financial ...

Are Kindergarten Costs Tax Deductible or Can You Get a Tax Credit?

Preschool and pre-kindergarten programs may qualify for a tax credit for children who are too young to attend school. These programs double as a child care service, making the cost eligible for the Child and Dependent Care Credit. Kindergarten costs are generally not eligible ...

How to Convert a Money Factor to an Interest Rate

Components of a lease payment are depreciation fee, finance fee and sales tax. The depreciation fee is a calculation based on the negotiated price of the car, the expected residual value, any trade-ins or down payments and dealer fees -- all items you would expect to affect your ...

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.