Author Archives: Site Administrator
What’s Happens to Digital Assets, When You’re Gone?
We all have many more digital assets than we realize. What happens to those assets when we die?, asks Investment News in the article “4 ways to help clients control their digital afterlife.” The answer is not that simple. There are a large number of rules that survivors must untangle, and many family members… Read More »
Everyone Should Have a Power of Attorney and Healthcare Power of Attorney
Before snowbirds begin their seasonal journey to warmer climates, it’s time to be sure that they have the important legal documents in place, advises LimaOhio.com in a recent article “Different seasons and documents, same peace of mind.” The two documents are a healthcare power of attorney and a financial power of attorney, and they… Read More »
Remaining Even and Fair in Estate Distribution
Treating everyone equally in estate planning can get complicated, even with the best of intentions. What if a family wants to leave their home to their daughter, who lives locally, but wants to be sure that their son, who lives far away, receives his fair share of their estate? It takes some planning, says… Read More »
What’s Better, A Living Trust or a Will?
Everyone knows what a last will and testament is. However, a will is not always the best way to distribute your assets, explains the Times Herald-Record in the article “Living trusts are better choice than wills.” Most people think that by having a will alone, they will make it clear who they want to… Read More »
What are the Biggest Estate Planning Errors to Avoid?
Nobody likes to plan for events like aging, incapacity, or death. However, failing to do so can cause families burdens and grief, thousands of dollars and hundreds of hours. Fox Business’ recent article, “Here are the top estate planning mistakes to avoid, ” says that planning for life’s unexpected events is critical. However, it… Read More »
Good News About Gifts
It’s worthwhile to understand the rules about taxes that might be triggered by your generosity, says Forbes in the article “How To Avoid Taxes When Giving Big-Dollar Gifts.” Did you know that you can give any one person as much as $15, 000 every year, without having to pay any gift taxes? You can… Read More »
Do Name Changes Need to Be Reflected in Estate Planning Documents?
When names change, executing documents with the person’s prior name can become problematic. For example, what about a daughter who was named as a health care representative by her parents several years ago, who marries and changes her name? Then, to make matters more complicated, add the fact that the couple’s daughter-in-law has the… Read More »
What Do I Need in My Estate Plan in Addition to a Will?
American Legion’s recent article, “Planning beyond the will” says that it’s important that your estate planning papers are synced with your wishes and the current law, but you should also look at some items outside of the fundamental documents: Beneficiary designations. This includes life insurance policies, IRAs, current and former employer retirement plans and… Read More »
What are the Best Places to Retire in New England?
In 2018, Maine and Vermont were two of the top 10 states people moved to for retirement, according to United Van Lines’ annual national mover study. Kiplinger’s recent article, “6 Great Places to Retire in New England, ” takes a look at one great retirement destination in every state, taking into account living costs,… Read More »
What’s the Best Way to Gift an Interest in My Business?
A couple who owned a small family business was thinking about giving interests in the business to their married son over time. However, they were worried about the “what if” scenario of a possible divorce in his future. If their son divorced, they didn’t want to be in business with his ex-wife. Forbes’s recent… Read More »