Year: 2015

Let’s cut right to the chase: one of the most common estate planning mistakes is simple to avoid and usually the result of sheer forgetfulness. It has nothing to do with the will or estate taxes. It’s the beneficiary designation. People forget to make changes as their life circumstances change. It’s quite common for ex-spouses […]

Elderly people or those who are disabled and unable to make proper decisions or care for themselves have long had court appointed guardians or conservators. These are typically family members, but courts are increasingly turning to a new business: guardians for hire. When appointed by a judge, these individuals hold authority over their wards, including […]

Just because you have large sums of money to pass to your heirs does not mean that you don’t have problems to address besides how much tax you don’t want to pay. Whether they are adult children or grandchildren, having heirs with behavioral problems, mental illnesses, a problem with drugs or chronic unemployment creates a […]

Should you suddenly become uber-wealthy, you’ll want to purchase a pricey art collection, which is 2.6 percent of the biggest estates. For those with only $10 million to $20 million in assets, a small collection, valued at about 0.6 percent of your estate, is almost de rigueur. There are extreme differences in the super rich […]

Here’s a Halloween riddle: What really scares Americans 50 and older? Answer: The stock market and their retirement. According to several recent financial security studies, including the Country Financial Security Index, as a result of the 2008 market meltdown, baby boomers are terrified of investment risk and another market crash. In the latest Country survey, […]

Of the three leading diseases that kill most Americans, two are well known for being financial nightmares: heart disease and cancer. The cost of drugs, multiple surgeries and hospitalization are widely recognized as presenting huge financial challenges to families, even when there is health insurance. But less known is the high cost of dementia. A […]

Taxes and inheritance issues go together like Halloween and trick or treating. Tax planning is a critical part of estate planning, and families who wish to transfer assets from one generation to the next need to prepare for both aspects, as settling an estate can easily become quite complicated. Many estate plans include the use […]

Depending on your perspective, this case is either proof of what proper estate planning can do or an exercise in frustration in a case of elder financial abuse. A court decision has ruled that a bank may use funds from an estate to defend a court battle where the daughter of a wealthy woman is […]

With a $350,000 grant, The Stanley and Elaine Ball Charitable Foundation has made it possible for the Taneyhills Library to renovate the children’s area and create a technology conference room that would have otherwise been impossible for the all-volunteer library to build. The hope is that the new features will draw new users to the […]

With the holiday season on the horizon, the end of year financial season has arrived. It’s time to deal with money issues relating to income tax planning, charitable giving and scams and the annual check up on family finances. There is not too much in the way of tax drama in the final weeks of […]