The federal estate tax is scheduled to disappear next year (in 2010); and although most people expect lawmakers to pass legislation keeping the estate tax alive, they also vaguely hope that the estate tax (also sometimes called the “death tax”) does disappear—at least for a little while. But this article in the Wall Street Journal… Read More »
Blog Posts Page 48
Is All This Really Necessary? . . . Yes, It Turns Out It Really Is
Jane Hodges of the Wall Street Journal recently jumped in where few would fear to tread—and lived to write about it. Where most people would prefer not to think about taxes and estate planning at all if they could help it, Hodges went through the process of creating an estate plan not only once, but… Read More »
Executors Have Options When It Comes to Final Medical Expenses
Most people die in a hospital; sometimes after a long and slow decline, sometimes after a quick and unexpected tragedy. If you are an executor of the deceased’s estate this is significant because it means that there are usually final medical bills to be paid. What most executors do not know is that these final… Read More »
Don’t Take That IRA Withdrawal Yet! New Options for Seniors in 2009
If you are a senior 70 ½ or older who owns an IRA we have good news for you. Last year Congress approved legislation that waives the minimum withdrawal requirement for seniors in 2009. This leaves seniors with more options than usual regarding their IRAs. You can still choose to take the withdrawal, of course;… Read More »
The “Second Victims” of Alzheimer’s Disease
The “first victim” is the person who is actually diagnosed with Alzheimer’s disease; the person who finds their memory failing, their personality changing, their past and present fading into a sea of frightening and confusing fragments of recognition. But Alzheimer’s disease affects more than just its victims, it touches the lives of their families and… Read More »
The Intersection of Family and Finances
Forget silver, china, or linens; the best gift you can give a newly married couple is an estate plan! This is especially true if the marriage is a second marriage for either of them. Marrying a person means marrying their financial issues as well; this may include children or responsibilities from a previous marriage, a… Read More »
What To Do If You Suspect Foul Play
The movies have given people certain expectations when it comes to a death in the family and probating a will; this Hollywood portrayal includes an attorney, a book-lined office, and the entire family assembled for a formal reading of the will which ends in shocked gasps as the entire fortune goes to an unknown and… Read More »
The Dangers of Neglecting Your Estate Plan
Many people think that there’s no need to update your estate plan documents if none of your beneficiaries or fiduciaries have changed, but that’s exactly the kind of thinking that can lead to disaster. Estate planning documents are based not only on your own wishes, but also on federal and state tax laws. When we… Read More »
The IRS Provides One More Reason to Consider Long-Term Care Insurance
In the estate planning business we help people plan for the future, not only for their children and heirs but for themselves as well; which is why we are pleased to share the news that it just got a little bit easier to plan for your own financial future, because according to this article on… Read More »
Trust Mill Con-Men Fined $6.4M for Illegal Practice of Law
The Ohio Supreme Court has recently taken strong action against two co-owners in a company participating in an illegal “trust mill” operation. According to this article from the Associated Press, the two owners, Jeffrey and Stanley Norman, have been permanently barred from marketing or selling their trust products in Ohio after they were found to… Read More »