Author Archives: Site Administrator
The People They Trust, Rip Off Seniors the Most
Seniors are frequent victims of financial abuse, whether the crook is a stranger or someone the older adult knows. Sadly, the people they trust rip off seniors the most. The Consumer Financial Protection Bureau (CFPB) analyzed the financial exploitation of older Americans, by poring through government reports that looked into suspicious financial activity. During… Read More »
Wills v. Trusts: What’s Right for You?
It’s a good idea to take the time and make the effort to create an estate plan to take care of your estate — no matter if it’s a condo apartment and a housecat or a big house and lots of money in the bank — just in case something unexpected occurs tomorrow. That’s… Read More »
How to Be Smart about an Inheritance
While there’s no one way that is right for everyone, there are some basic considerations about receiving a large inheritance that apply to almost anyone. According to the article “What should you do with an inheritance?” from The Rogersville Review, the size of the inheritance could make it possible for you to move up… Read More »
What Are the Common Myths of Powers of Attorney?
The Lubbock Avalanche-Journal’s recent article entitled “Five common myths about powers of attorney” explains away some misconceptions about powers of attorney. There’s just one uniform power of attorney document. No, there are many types. However, they can vary by state. Talk to an experienced estate planning attorney to draft a document to meet your… Read More »
How Do Family Relationships Mess Up Estate Planning?
According to a recent Key Private Bank poll of financial advisors, 80% said that working through family issues is the most difficult aspect of estate planning. With more and more blended families, the issues of equitable distributions among family members becomes even more complex. The interaction between parents, children, step-parents, and step-children can be… Read More »
Must I File Taxes When My Dad Dies?
Generally, when someone passes away, the final individual federal and state tax return must be prepared and filed in the same way as when they were alive, says nj.com, in the recent article, “What tax returns need to be filed after someone dies?” All of the income starting at the beginning of the year… Read More »
There’s A Reason Why There are Laws about Wills and Estates
If this question sounds like something from a lawyer’s bar exam, that would be about right. It sounds like the first will should be in control, since his intentions were made clear in the first will, even if it was not executed correctly. This was explained by nwi.com in the article “Estate Planning: Will… Read More »
What Family Caregivers Need to Know About Taxes
If you serve as a caregiver for a family member, you are probably spending a great deal of money out-of-pocket, in addition to sacrificing a substantial amount of your time to care for your loved one. Many caregivers spend more than $5, 000 a year for their loved ones, without reimbursement from Medicare or… Read More »
What Are the Biggest Threats to Estate Planning?
A recent survey conducted by TD Wealth at the 53rd Annual Heckerling Institute on Estate Planning found that nearly half (46%) of respondents said that family conflict was the biggest threat to estate planning in 2019, followed by market volatility (24%) and tax reform (14%). Insurance News Net’s recent article, “Family Conflict Reigns As… Read More »
How Can I Diversify My IRA?
Traditional financial institutions that act as custodians for IRA accounts limit investment options to what they have to sell you—stocks, bonds and mutual funds. However, the IRS is more liberal. Forbes’ recent article, “How To Invest Your IRA Funds Offshore, ” explains that IRS regulations that are of the greatest concern have to do… Read More »