Roth IRAs are an ideal Planning Tool
Here are some of the reasons Roth IRAs make sense for 2021 and likely beyond.
June 23, 2021
QTIP Trusts Help avoid Estate Taxes
Right now, gifts to trusts can take advantage of high tax exemptions and remove future appreciation of assets from taxable estates. One example available to spouses is making a gift to a trust that allows for a qualified terminable interest property (QTIP) election.
June 22, 2021
529s are Flexible Estate Planning Tools
People tend to think of ‘529’ education-savings plans as an excellent way to save and invest tax-free for college or schooling costs, and they are.
June 21, 2021
Protect Assets and maintain Medicaid Eligibility
The bill for long-term care adds up fast. The annual median cost for a private room in a nursing home was $105,850 in 2020, according to Genworth. The government could pick up these costs if you qualify for Medicaid, but that’s easier said than done.
June 17, 2021
Handwritten Will can be a Serious Mistake
A holographic will is a will handwritten by the testator (the maker of a will). Holographic wills are recognized in about half of the states in the United States.
June 16, 2021
Short-Cuts in Planning can have Consequences
Over the years I get all kinds of questions from people. And boy, have I heard some doozies. But one common one I get is called the ‘lazy (or poor) man’s (or woman’s’) estate planning.’ This type of estate planning has some very negative tax consequences.
June 15, 2021
Not Everyone can Contest a Will
The death of a loved one results in an emotional grief that, when combined with large sums of money on the line, can cause the beneficiaries of the will or trust or the heirs of the deceased to challenge the validity, interpretation, or administration of the will or trust.
June 14, 2021
How to Perform the role of Executor Efficiently
The wave of people prompted by the COVID-19 pandemic to write their wills is creating yet another wave in estate planning: all the people being asked to one day put those wills into effect.
June 10, 2021
Can I Be Paid as a Caregiver?
Your chances of getting paid to be a family caregiver are best if you are caring for a U.S. military veteran or for someone eligible for Medicaid, but other possibilities exist.
June 9, 2021
What are the Early Signs of Dementia?
From age 50 on, it’s not unusual to have occasional trouble finding the right word or remembering where you put things. However, persistent difficulty with memory, cognition and ability to perform everyday tasks might be signs that something more serious is happening to a loved one’s brain.
June 8, 2021