Recent Blog Posts
How to Plan for Incapacity
Planning for incapacity is just as important as planning for death. One is certain, the other is extremely likely. Therefore, it makes sense to prepare in advance, advises the article “Planning ahead for incapacity helps you and family” from The Press-Enterprise. Let’s start by defining capacity. Each state has its own language but for… Read More »
Why Everyone Needs an Estate Plan
Financial planners know that most people need to have estate plans, no matter how much or even how little money they have, as explained in this recent article “I’m a financial planner, and there are 3 reasons everyone needs an estate plan no matter how much money you have” from Business Insider. An estate… Read More »
Tax Implications of CARES Act for Roth Conversions
With a combination of lowered 2020 tax liability, the potential for future tax increases and potentially lower portfolio values, we are in uncharted financial waters. However, all of these factors may make a Roth conversion more attractive than ever, according to the article “Covid-19 and the CARES Act enhance the Roth conversion game” from… Read More »
Does Sense of Smell Impact the Onset of Dementia?
In a study by the University of California-San Francisco, researchers monitored about 1, 800 participants in their 70s for a period of up to 10 years to determine, if their sensory functioning could be linked with the development of dementia. At the time of enrollment, all participants were dementia-free, but 328 participants (18%) developed… Read More »
Can I Add Real Estate Investments in My Will?
Motley Fool’s recent article entitled “How to Include Real Estate Investments in Your Will” details some options that might make sense for you and your intended beneficiaries. A living trust. A revocable living trust allows you to transfer any deeds into the trust’s name. While you’re still living, you’d be the trustee and be… Read More »
Estate Planning and Probate Planning
The nature of the probate process varies from state to state, and even varies from county to county. However, the nature of the process is the same. A court has to validate a will to ensure that it meets the legal requirements of the state before assets can be distributed, explains the article “Probate… Read More »
What Will Biden Do with Medicaid, if Elected President?
Biden’s proposal is ambitious. It addresses the long-term care needs of the Medicaid population in a fairly complex manner. The proposal continues to leave big gaps in Medicaid-based care and does nothing for the millions of people who need long-term support and services but are ineligible for Medicaid. Biden’s plan is part of an… Read More »
Legislation to Prevent Medicare Mistake Penalties Making Progress
More older workers are remaining in the workplace. In 2016, about 60% of 65-year-olds were receiving Social Security benefits, compared to 92% in 2002. Consumer advocates expect that change to result in a growing number of older people making expensive mistakes, when they enroll in basic Medicare, says the article “Bipartisan bill to prevent… Read More »
That Last Step: Trust Funding
Neglecting to fund trusts is a surprisingly common mistake, and one that can undo the best estate and tax plans. Many people put it on the back burner, then forget about it, says the article “Don’t Overlook Your Trust Funding” from Forbes. Done properly, trust funding helps avoid probate, provides for you and your… Read More »
Why Is Trust Funding Important in Estate Planning?
Trust funding is a crucial part of estate planning that many people forget to do. If done properly with the help of an experienced estate planning attorney, trust funding will avoid probate, provide for you in the event of your incapacity and save on estate taxes, says Forbes’ recent article entitled “Don’t Overlook Your… Read More »