An article in the Wall Street Journal serves as a good reminder of the importance of creating and also revisiting your beneficiary designations. Typically, when you buy life insurance, sign up for employer-paid life insurance or open a retirement account, you’re asked to designate either a person or entity to receive the proceeds after you …
Dear FineMark: Should I add a struggling daughter to my home’s title for security?
Today’s Dear FineMark is about add a child to your home’s title. Here’s the question… “I’m a widowed mother with two adult daughters—one financially stable in New York and the other, divorced and struggling, in Florida. I own a nice home in Florida and want to ensure my struggling daughter always has a place to …
Dear FineMark: How to secure grandchildren’s future financially smartly?
Today’s Dear FineMark comes from a grandfather who’s thinking about his legacy, not just in dollars, but in opportunity. Here is the question… “I’m 79, recently retired, and my wife and I have been fortunate. We’ve built up about $15 million in assets over the years, and we live comfortably. We have four grandkids and …
Dear FineMark: Who can access a safe-deposit box after death?
Today’s Dear FineMark comes from a family trying to help settle a loved one’s estate. “My uncle recently passed away and we’re trying to find his will. Everyone says it’s in his safe-deposit box, but no one in the family is listed on it. We have the key, but the bank won’t let us in. …
