The Dangers of Inheriting a Health Savings Account (VIDEO)
Woe to the person who inherits a Health Savings Account. Alhambra's Bob Williams describes the pitfalls and what to watch out for.
Inherited Health Savings Accounts—Not a Beneficiary’s Best Friend
The Health Savings Account has been a wonderful addition to the financial landscape of people who are eligible for one. They’re often thought of as a way to pay for qualified medical expenses with pre-tax money during your working years for things like deductibles, copays, and non-covered items—in other words, things not covered by insurance. You can’t make contributions to [...]
Preparing for Diminished Capacity—Just in Case
It’s been pounded into us that having a successful retirement requires advance planning—financial planning, Social Security planning, retirement income planning, and estate planning. And now, there’s another component to be considered—planning what happens in the event you have a decline in mental capacity. The Administration for Community Living estimates there are 54.1 million Americans who are 65 years old or [...]
Revocable vs Irrevocable Trusts
My, how things have changed. When I was growing up, if you found out someone had a trust, well, that person must be rich—they must be a millionaire (that’s back when a million dollars was really worth something). Today, though, trusts of all kinds are a common planning tool providing specific benefits to a multitude of situations. But boil it [...]
Ask Bob: How to Avoid Probate Without a Trust
PROBATE—a word that strikes terror in the hearts of people planning the distribution of their estates. They worry that the probate process can drag on for months or years, that probate costs will eat up a chunk of what they want to leave their heirs, or that people will find out how the assets get distributed because probate is a [...]
Ask Bob: Six Mistakes That Will Blow Up Your Estate Plan
Alhambra's Bob Williams describes 6 mistakes that will blow up your estate plan.
6 Common Mistakes That Blow Up Your Estate Plan
Saying you need an estate plan is like saying you need to eat your vegetables. You know it’s good for you but there are other things you’d rather do. A survey by Caring.com shows that in 2021, 25% of Americans ages 18-34 had some type of estate planning document, 22.5% ages 35-54 had a will or trust, and only 44% [...]
Tips For Being An Executor (VIDEO)
Alhambra's Bob Williams offers tips on being the executor of an estate.
What the Tax Man Requires After a Loved One Dies
Someone trusts you so much that they name you to settle their estate after they die. You’re honored they have that much confidence in you, but you don’t think much about what’s involved in settling an estate. Among the long list of items you have to deal with is settling the deceased’s tax bill. You may have to file just [...]
Who’s Your Beneficiary? (VIDEO)
Who's the beneficiary on your accounts? If you haven't updated them in a while, if something happens to you, your money may not go where you want.
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