In most situations, you can leave your Roth IRA to anyone you please simply by designating them as beneficiary. While it is perfectly legal to leave retirement accounts to a minor, doing so can create some complications. IRAs aren’t just retirement tools, they are also significant tools for estate planning. This is especially true when […]

You have a whole or universal life-insurance policy that you or your heirs don’t really need. What do you do? Well, you may want to donate it to your favorite charity. There are basically two ways to do it. Ask any widow or widower and they will tell you that it is better to be […]

By one count, nearly one-third of Medicare Advantage plan enrollees say they were denied coverage for treatment by their plans. Such denials of coverage can be enraging or even life-threatening. However, there is an appeal process to resolve these conflicts. If you (or a loved one) have a Medicare Advantage plan, then it is important […]

What makes an appraisal “qualified,” says the Tax Court, is whether it provides sufficient information to enable the Internal Revenue Service to evaluate an appraiser’s methodology. When you give cash to charity, it is a pretty straightforward offering that holds a specific value. Easy enough. But what about non-cash items? Well, those must be appraised […]

Documents recently released in litigation between the estate of pop star Michael Jackson and the IRS showed that a large part of the dispute revolves around the value of Jackson’s image and likeness. While the estate assessed the value of his image at $2,105, the IRS’s valuation was more than $430 million. When it comes […]

“There are things you can do to minimize—or with the right set of facts—eliminate taxes,” says Timothy Jessell, a tax lawyer with Greenberg Traurig in Tysons Corner, VA whose client base is people buying and selling companies. In one case, a client who is selling his consulting company will save $3.8 million in taxes “simply […]

In the end, you can think of the RISE system as a basic question: Is this organization built to get the job done? And, will it help you get your job of doing some good in the world done right? Giving to a good cause can have a substantial impact on the need at hand, […]

“The presumption is that everyone has someone available, someone most likely younger or in better health, and better able to carry out one’s wishes or make decisions with your guidance…” But not everyone does. When it comes time to make life-and-death health decisions on your behalf, what do you do if you have no “family” […]

In the survey, conducted by Interest.com, a financial planning site, just 27 percent of respondents age 18 to 59 said they expect to receive an inheritance from their parents or other family. Even those who believe there will be something left over for them aren’t expecting a huge windfall. Did the recession ruin the chances […]

Federal officials are eager to get the word out that seniors and disabled individuals enrolled in Medicare Part A — which covers hospitalization and limited nursing home care and is free for most beneficiaries – do not need to buy a marketplace plan, because they are already meeting the insurance requirements. Changes in healthcare can […]