Recent Blog Posts
Will Stepmother Take Dad’s Money When He Dies?
Here’s a savvy and responsible stepmother—she called for a meeting with the estate planning attorney. At age 57, married to a 72-year old man with three kids from his first marriage and two kids from their marriage, she wanted to make sure that his wealth didn’t become a source of agitation for the family,… Read More »
Just What are the Responsibilities of a Financial POA?
The concept of a power of attorney sounds simple but there is a lot to know about this important part of an estate plan, says the Rushville Republican in “Financial power of attorney responsibilities.” Whether you are named as someone’s power of attorney or you are considering who to name on your behalf, it… Read More »
Do You Have a Signed Power of Attorney?
Wise incompetency planning usually includes the execution of a power of attorney. This document names an agent who can sign checks, pay bills and make other financial decisions in your stead. FEDWeek’s recent article, “Guarding against the Chance of Incapacity, ” suggests that, rather than a “regular” power of attorney, you may prefer a… Read More »
How Can a Trust Keep My Family From An Undesirable Lifestyle?
Some people are hesitant to use trusts in their estate planning. Some have the notion that if you leave money in trust, it will make “trust fund babies” of your children or grandchildren. You may be afraid that they’ll become spoiled brats, who do nothing but spend money they haven’t earned or invest foolishly…. Read More »
Still Wondering Why You Need to Review an Estate Plan?
One of the most common mistakes in estate planning is thinking of the estate plan, as being completed and never needing to be reviewed. That is similar to taking your car for an oil change and then simply never returning for another oil change. The years go by, your life changes and you need… Read More »
What Does a Fiduciary Do?
It sounds a little like something financial, like maybe something you do at a bank. But a fiduciary relationship is a legal relationship that includes responsibilities that can be enforced, reports the Denton Record-Chronicle in a detailed article with the edgy headline “What is the “F” word?” The article addresses this serious topic that… Read More »
Why Can’t My Husband Go to the Doctor to Help Me?
Health care privacy laws have created situations for many well-meaning people that become really annoying. If one spouse is ill and the other spouse is more than willing to take a ride to the doctor’s office to get a needed document, in many instances they cannot—even if the doctor or physician assistant knows them… Read More »
What Do I Do with An Inherited IRA?
Investopedia’s article, “What to Do With Your Inherited IRA, ” looks at the differences between a traditional IRA and a Roth IRA, what it means when you inherit them and how to navigate both. IRAs come in two flavors: pre-tax and post-tax. A pre-tax retirement account means the money that goes into the IRA… Read More »
What Do I Need to Know About Estate Planning After a Divorce?
The recent changes in the tax laws created increased year-end activity for those trying to finalize their divorces by December 31—prior to the effective date of the new rules. The new tax laws stipulate that alimony is no longer deductible by the payor, and it’s no longer taxable by the receiver—this creates a negative… Read More »
Who Will Pay for Your Nursing Home Care?
It’s hard for everyone in the family, when a beloved parent or grandparent must enter a nursing home, because they can no longer live on their own. Often the result of a physical or mental decline, the difficultly is compounded by worries about how to pay for the care, reports The Ledger in the… Read More »