Heirs receiving an inheritance can expect the process to take time. Having a plan for the money and consulting with professionals are also things to keep in mind.
When beneficiaries receive a payout from a life insurance policy, they typically don’t have to pay taxes. However, there are a few situations where a portion of the life insurance benefit is taxable to the beneficiary.
It isn’t just about wills and funerals—it is a reflection of your values, your goals for healthy aging, and the hopes and dreams you have for those you love.
If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.
Leonard Cohen had been burned before. So, in the years before his death in 2016, the “Hallelujah” singer and poet worked to secure most of his multi-million dollar estate for the benefit of his heirs — who are now fighting for total control of the Canadian musician’s assets, The Post has learned.
Naming secondary beneficiaries can help estate planners avoid the delay and costs of going through probate, as well as ensure that your wishes are carried out.
