Facing the unavoidable reality of our mortality is tough, yet arranging a seamless handover of your assets can significantly lighten the load on those you care about when you’re no longer around. One savvy tactic to make this happen is by implementing a transfer on death (TOD) designation on your financial accounts. This nifty legal …
Understanding When Life Insurance Gets Taxed Life insurance serves as a financial shield for your loved ones, a promise of security when you’re gone. Yet, the question lingers: will the IRS dip into those funds when your family needs them most? Typically, death benefits from life insurance policies glide through tax-free. However, certain scenarios, especially …