When Americans face financial stress they turn to their retirement accounts for liquid assets. Pensions, 401K plans and 403B plans are where Americans are turning to for quick infusions of cash. In this past year borrowing from retirement accounts hit new highs. It is estimated that more than 15% of all individuals who have money in retirement … [Read more...]
What Wills Can’t Do
There are many very important uses for wills. However, there are things for which wills were not designed and cannot accomplish. The following are a list of things that can NOT be dealt with in a will: 1. If you own assets in a "joint tenancy" with another individual, or a "tenancy by the entirety" (a marital estate), you cannot dispose of … [Read more...]
Division of Property in a Divorce
The division of assets in a divorce can be a significant issue. Lawyers are expensive. They charge on an hourly basis. A "common sense" approach to division of assets can reduce your legal expenses. Both parties may have deferred compensation assets, such as pensions, 401Ks, 403Bs, and IRAs. You should establish the value of these assets and … [Read more...]
