Many people assume that their will controls who inherits all their assets when they pass away. However, this isn’t always the case. Many assets, such as life insurance, annuities, and retirement accounts (401(k)s, IRAs, 403(b)s), transfer directly to a named beneficiary—regardless of what a will says. Additionally, many financial institutions allow you to name beneficiaries on non-retirement accounts, known as Transfer on Death (TOD)  or Pay on Death (POD)  accounts. While th

As our parents age, conversations about their future become increasingly important. One of the most delicate yet essential topics to address is estate planning. While discussing this can feel daunting, it’s vital for ensuring that their wishes are respected and that loved ones are protected. Here are some engaging tips to help navigate this conversation with sensitivity and care. Start with Empathy Approach the topic with empathy. Recognize that discussions about estate plann

It is very important to know your terms before applying for a mortgage . Bookmark this tab on your computer so that you can reference these terms at any time before or during the mortgage process. Appraisal : A rough estimate of how much the home is worth. Appraisals are required by lenders before a home loan can be signed. The appraisal tells the lender how much can be loaned to the borrower. Appraisals come from an independent third party, not the lender. Principal: The s