Category: Estate Planning
Naming the right person as the executor of your estate is one of the hardest and most important decisions. Knowing what to do if you’ve been named an executor can feel overwhelming. Being named an executor is an honor – it means that someone trusted your judgment and your ability to handle complex tasks on […]
Unlike people who work for an employer and can set automatic deductions for their IRA accounts, self-employed people need to set up and contribute to retirement accounts. Two of the most frequently used accounts are the Simplified Employee Pension (SEP-IRA) and the Solo 401(k). Contributions to both are tax-deductible, allowing the entrepreneur to obtain tax-deferred […]
Consider your will as one last chance to let your heirs know how much you love them – because you thought enough of them to plan for your eventual demise. Any adult with minor children or assets of any kind needs to have an estate plan. And if you have complicated life – second or […]
When their daughter had a breakdown while attending college, there was nothing that Keisha Sacher’s parents could do when she refused to come home. At age 19, she was an adult. They had no legal control over her. When she finally did return to their home, the family endured a nightmare of her drug addiction, […]
Having an adult child added as an owner of bank account is a fairly common occurrence that allows both elderly parent and child to have access to the account if the parent needs assistance in managing their money. But most people don’t know that by titling an account differently, the account can still be accessible […]
The details are still unknown, but family limited partnerships and family limited liability companies are being scrutinized by the IRS and the US Treasury and changes are coming. The IRS is looking to close a loophole that has worked very well for many years for wealthy families. The IRS is about to get tough on […]
Managing and growing wealth requires a deep bench of skilled and trusted advisors. Among millionaire investors, a third are comfortable with having two advisors, while 36 percent prefer to work with three advisors. Interesting that those prefer two advisors are mostly Baby Boomers, while half of those who prefer the trusted trio are Gen X-ers, […]
Life is about changes, both good and bad. Children grow up and marry and have children of their own. Families experience the pain of divorce. New families are created when divorced parents remarry. Many of these changes require revisiting and making changes to your estate plan. Even when your family life is stable, laws change […]
If you are a pet owner, chances are you love your pets and consider them family members. We love them, we buy them toys, and it is not usual for people to bury their beloved pets in pet cemeteries. However, we often do not make plans for what will happen to our pets if we […]
No stranger to unusual estate issues — like a pet eel with no named caretaker and a security detail for a ring worth half a million dollars — the Orange County Public Administrator’s Office is now preparing for an estate sale of Gerald Willits, who left behind 69 cars in his yard, several real estate […]
