Category: Estate Planning
In some cases, outdated or inadequate estate plans have led to highly-publicized disputes between heirs that have squandered fortunes and diminished legacies. These situations are more tragic because they are usually entirely avoidable, especially when advisors are willing to facilitate difficult conversations. An estate plan is no “one and done” project. In fact, it’s very […]
[Glen Campbell’s wife] Kim Campbell told The Associated Press in an email Thursday that the 78-year-old’s Alzheimer’s disease has progressed to the point that he needs access to medical care 24 hours a day. When Alzheimer’s strikes, the decision of how to care for a loved one can be increasingly challenging as the disease progresses. […]
Ordinarily, the deadline for taking this so-called required minimum distribution is Dec. 31. But for your first such distribution you get until April 1 of the year following the year you turn 70½ to make the withdrawal. Do you know when you can withdraw from your IRA? According to the tax law, from age 59½ […]
This valuable estate-planning tool can help your beneficiaries make the most out of their inheritance but many investors do not know about these stretch provisions. This leaves retirees with the important question: Should they force their beneficiaries to stretch the inherited IRA? What is a “stretch IRA” strategy? A recent Forbes article titled “Should I […]
While minimizing taxes is certainly not the only, nor even the primary, objective of trusts, it is a major issue for trustees with a fiduciary responsibility. The variety of trusts and the rules surrounding them are many and can be complex. A recent CNBC.com article, titled “Estate planners shift gears in new tax environment,“ explains […]
All sorts of things can change over the course of our lives—and some of those changes may affect existing estate plans. Experts recommend that you review your estate plan every few years to confirm whether it needs updating. Things change over time. New tax laws, more grandchildren, an aging estate executor … the list goes […]
Passing down your home is so much more than just a transaction. It’s a delicate process that affects your entire family—and with good reason. The timing of creating an estate plan doesn’t necessarily coincide with a certain age. As pointed out in a recent Forbes article, titled “Passing Down Your Home? 3 Steps To Creating A […]
“It takes money to make money.” What drives long-term investments to succeed? We all know the saying “It takes money to make money,” but how exactly does it work? Here are three ways your investments can grow. Dividends. According to a recent Forbes article, titled “Essentials of Powerful Long-Term Investing“, owning stock can often mean […]
All too often, people go to great pains to write a will and put other estate-planning documents in place, only to have a court invalidate them. Are you sure your will can hold up in court? Review these three points to make sure your will is ironclad in the eyes of a judge. You Must […]
In a unanimous ruling written by Justice Sonia Sotomayor, the court said inherited IRA money not received from a spouse isn’t protected in bankruptcy proceedings. The Supreme Court ruling applies to inherited IRAs but not to other types of retirement accounts. It also clarified instructions in the Bankruptcy Code, as millions of baby boomers begin […]
