Image: fizkes/Shutterstock.com
When you’re developing an estate plan, avoid these common errors:
* Don’t give away assets too soon. Youngsters may be unprepared to deal with a great deal of wealth. If you wait until your children are 30 or older, they probably will have finished school, established careers, and be able to handle money responsibly.
* Don’t delay lifetime gifts for too long. If illness or incapacity strikes, you might not be able to create the estate plan you desire.
* Don’t impose harsh restrictions. If you attach excessive stipulations to inheritances, trying to exert control after your death, your heirs may be resentful.
* Don’t give or bequeath too much to younger generations. Your heirs may fail to lead worthwhile lives, if their financial needs are already met.
Retiring from a Federal Job – Getting Started
TSP Responds to Customer Service Complaints
Frustrating Debut for New TSP Account Setup, Features
Court Rejects Suit over Delayed TSP Matching during 2018-2019 Shutdown
Eligibility for FERS Retirement
Your Choices for Distributions from the TSP
Your Retirement: A Slope or a Cliff?
Your Finances after Retiring from the Federal Government
OPM Expects to ‘Revise’ FLTCIP Premiums, Could Temporarily Bar New Enrollments
Bid to Equalize CSRS, FERS COLAs Gets Boost in Senate
Common Mistakes in Federal Retirement Applications
Thanks to a Pension, Feds Are Doing Better than Most in Retirement Preparedness
FERS Retirement Planning Bundle: 2022 FERS Guide & TSP Handbook
