A key part of an annual year-end review of financial planning should include a review of the estate plan. As the end of each year approaches, people who keep close watch on their financial plans take that time to look at investments, asset relocations and a close look at the status of their retirement plans. […]

The death of the Red Duchess in Spain in 2008 sparked a legal battle over her estate which has ended with a court ruling she was wrong to cut her children out of the estate. Luisa Isabel Álvarez de Toledo, the 21st Duchess of Medina Sidonia, decided she did not want her children to inherit […]

A family member may need more than the $14,000 annual gift tax exemption allowed and a loan can sometimes be the answer. The annual gift tax exemption of $14,000 ($28,000 for a couple) is sometimes sufficient in terms of gifting money, but a specific reason for the gift could push that number higher. A loan […]

As end of year approaches, it is time for celebration, holiday gifts and tax planning. Tax consequences often need to be considered when it comes to giving some gifts on holidays while others—small, less expensive gifts—fall under the radar and have no major tax implications. However, what if you want to give something bigger, such […]

Former NBA player Lamar Odom may have made a mistake with his estate planning when he apparently didn’t consider divorce in his planning. Lamar Odom, husband of reality TV star Khloe Kardashian, was found recently near death in a Nevada brothel and may have made a mistake in his estate planning prior to the incident […]

When it comes to IRAs most couples name each other the beneficiary and the remaining spouse creates a spousal rollover. If the surviving spouse is incapacitated by an ailment such as dementia, complications can arise. What happens when end-of-life affairs are set up for a couple and one member later becomes incompetent? The potential problem […]

A new bill introduced in the Senate aims at eliminating some of the wait time for an appeal to a denied Medicare claim. An appeal to a denied Medicare claim now takes approximately 547 days, according to a McKnight’s article titled “Bill would speed up Medicare claims appeal process. It was only 94 days in […]

There is an issue of U.S. property seized in Cuba more than a half century ago that may slow the attempted reconciliation with Cuba recently announced by President Obama. Despite the fact that American companies are already making plans to do business on the island, the project could be put on hold for a while. […]

Many websites now exist where an estate plan can be stored online, but a word of caution on storing a valuable plan in the cloud. A new trend in the world of estate planning was reported in a recent article in U.S. News and World Report, “Passwords and Powers of Attorney: Your Digital Estate Planning […]

The rules that allow first party special needs trusts to protect assets while receiving assistance from the government are being tightened. First party special needs trusts are established by a parent, grandparent, guardian or by court order for the sole benefit of a person with special needs. The assets of the person with special needs […]