Financial Planning Focus – Beware the Pitfalls of Designating Your Trust as a Beneficiary for your IRA or 401(k)
Many of our clients have created a trust as part of their estate planning, or have experience with a family member’s trust. A trust is a financial tool that can assist with the handling of your legal and financial affairs, both during life and after death.
Georgia O’Keefe’s “Flower” painting set a new record for a work by a female artist, grabbing $44 million at auction late last month. Also in November, Andy Warhol’s signature silk-screen of Elvis Presley yielded $82 million, and Alberto Giacometti’s “Chariot” was sold for $101 million. The recent surge in artwork prices represents the growing interest in art as an investable asset.
According to new estimates from the Society of Actuaries, the average 65 year-old will likely live until their late 80s. On average, women are expected to live until age 88.8, while men are expected to live until age 86.6.