A productive family meeting can have a profound impact not only on the individual family members who attend, but also on all those they interact with afterwards. Communication is key when it comes to estate planning. In fact, the entirety of an estate plan – from the advance health directives covering your end-of-life decisions down […]

If you’re handling the finances for an older family member or are about to do so, some sticky challenges can pop up quicker than you think. Managing your personal finances can be a challenge. But what if you had to manage money for someone else? Managing the finances of a loved one is a far […]

A tax deduction for charitable giving isn’t guaranteed just because you’re feeling generous. As with everything in tax law, it’s important to follow the rules. As the holiday giving season begins with the tax year ending shortly thereafter, now is a good time to plan your giving. But take note: there is giving, and then […]

What will be the most likely exit scenario from your business when the time comes? If you own a small business, what will your last day at work be like? What is your exit strategy? The answer hinges on whether your exit will be by design or by default. To exit your business by design […]

There are steps that residents of states with steep estate taxes can take–short of moving–to help minimize such bills or avoid them altogether. Although the Federal government may cast a big shadow in terms of estate taxes, don’t forget those state laws lurking in the shadows. If you are building your estate plan, be sure […]

The nation’s elderly and disabled Social Security recipients will receive a 1.5 percent increase in payments in 2014. The same COLA will apply to pensions for federal government retirees and most veterans. According to recent news from the Social Security Administration, the Cost Of Living Adjustment (COLA) made to Social Security payments will increase 1.5% […]

Starting in 2014 … the basic exclusion will go up to $5.34 million per person, from $5.25 million this year. [However,] there will be no change in the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many individuals as you want without dipping into the […]

Millions of Americans are managing money or property for a loved one who is unable to pay bills or make financial decisions. This can be very overwhelming. But, it’s also a great opportunity to help someone you care about, and protect them from scams and fraud. Handling finances can be tricky for yourself alone.  So […]

Give a copy of your wills, trusts and powers of attorney (financial and health care) to anyone named or authorized to act on your behalf, and store the originals at home; otherwise, your children could have trouble getting them at the critical time. The best laid plans of mice and men alike may fall apart […]

My mother went from private pay to Medicaid pay in her nursing home January 1, 2013. She now has zero money and all of her Social Security goes to the nursing home … Should I sell [her] home and effectively turn all of the assets over for her care or wait until her death, at […]