Year: 2020
“The rapidly evolving coronavirus (COVID-19) crisis is creating a plethora of unique estate planning and legal challenges across the globe, particularly given the volatility of the financial markets.” As Americans adjust to a changing public health landscape and historical changes to the economy, certain opportunities in wealth planning are becoming more valuable, according to the […]
“The stretch IRA is dead and everyone (including me) is writing about how this is the apocalypse for IRA planning. Well, it isn’t. Let’s all take a deep breath.” Yes, the SECURE Act has eliminated the use of the stretch IRA, which is the ability to pass an IRA down to a child or grandchild […]
“You’ve probably received one: A recorded call warns of a problem with your Social Security number. To fix it and avoid legal action, you’re told, you must call back immediately—and pay up.” You’d think everyone would know to ignore these calls. However, these criminals are so convincing, says The New York Times in the article […]
“The worldwide worry over coronavirus creates a glimmer of good news for at least one segment of the U.S. population: the top 0.1 percent.” A down market gives super-wealthy people the ability to use sophisticated strategies to help pass along billions of dollars to heirs, tax free, reports Accounting Today in the article “Heirs of […]
“A power of attorney, similar to a last will and testament, is a powerful document that must be created before it becomes necessary.” All too often, people wait until it’s too late to execute a power of attorney. It’s uncomfortable to think about giving someone full access to our finances while we are still competent. […]
“Giving appreciated stock shares, donating your RMDs and using charitable remainder trusts are just a few of the options you may not be aware of to help charities and your heirs at the same time.” America is a country of generous people. We give to organizations that we feel connected to, and we give to […]
“There were only approximately 1,900 taxable estates in the U.S. in 2018, which is less than 0.1 percent of people who died that year.” The federal estate tax has been a small but steady source of federal revenue for nearly 100 years. The tax was first imposed on wealthy families in America in 1916. They […]
“The most common misconception estate planning attorneys hear is that someone doesn’t need an estate plan because their client isn’t elderly or on death’s door.” Estate planning is something anyone who is 18 years old or older needs to think about, advises the article “Estate planning for every stage of life” from the Independent Record. […]
“During the estate planning process, these beneficiary designations are reviewed to ensure that the beneficiaries are correct, and that the distribution of these assets conforms with the client’s intended estate plan.” Naming a beneficiary on a non-retirement account can result in an unintended consequence—it can even topple an entire estate plan—reports The National Law Review […]
“With all the media buzz about guardians stealing money from those whom they are meant to protect and overall financial abuse issues involving seniors, it’s a good moment to revisit how surrogate decision-making works.” Protecting yourself or a loved one can take many different forms, since aging takes a toll on the ability to handle […]
