Category: Estate Planning
You were so helpful to me in September, clarifying the IRA charitable contribution. Do you know if the government is instituting that same contribution this year? We are well into tax season and planning for the upcoming year. Are you keeping up with the tax laws? As many retirees and their advisors review changes in […]
Completing the following four tasks can help you meet any last obligations to your loved ones, ensure your final days are spent as you want, and reconcile your dreams with the realities of your life. Is a goal without a plan just a wish? Regardless of the goals you have for your estate, loved ones or […]
To avoid a crisis in your family, be sure your parent has the following documents. Some of the most important end-of-life planning should include making sure your loved ones have the legal right to take care of you later in life. Accordingly, there are some essential legal documents you really must have in place to […]
The fear that the government could one day seize their homes is deterring some people from signing up [for Medicaid]. Medicaid comes with a lot of give and take. It is a safety net for those who need it, but it does come with its drawbacks. One drawback many are now discovering is “Medicaid Asset […]
You should prepare a will so your heirs will be taken care of in an organized, legal and efficient manner, according to your wishes. Preparing your will is not exactly a “fun” thing to do, as most people don’t want to think about the end of their own lives. Even Baby Boomers that are reaching […]
Emotionally, it’s hard to let go of a home filled with memories. Moving is a hassle, and downsizing to a smaller home isn’t always the cash bonanza some might expect. When entering your golden years of retirement, what is the ideal living arrangement for your new stage of life? Do you stay in your home […]
The law created a chance for wealthy families to move assets out of their estates and let their heirs benefit from any appreciation in value, said Lisa Featherngill, a managing director at Abbot Downing, a wealth-management unit of Wells Fargo & Co. According to official numbers recently released by the IRS, U.S. taxpayers transferred $122 […]
Without a plan in place, you risk burying your family in red tape as they try to get access to and deal with your online accounts that may have sentimental, practical or monetary value. Just when you think you’ve covered all your bases when planning for your estate, the issue of your digital accounts comes […]
South Dakota was a pioneer in “dynasty trusts,” which allow families to escape estate taxes forever. The state offers iron-clad secrecy for trusts and protection of assets from creditors and former spouses. When it comes to “dynasty trusts,” some states have more favorable trust laws than others. Believe it or not, sleepy South Dakota is […]
“Pet trusts aren’t just for the wealthy,” says Frances Carlisle, a trust and estates attorney in New York. For most pet owners, she adds, the goal “is to make sure a plan exists for the care of the animal.” Do you own a pet? It seems as though more and more people are taking in […]
