How to Organize Digital Assets
You must now make sure that your loved ones have access to your digital assets should you die.
December 28, 2020
Elder Financial Abuse on the Rise during the Pandemic
The pandemic is isolating many elderly Americans—as family members distance themselves, in an effort to keep everyone safe.
December 23, 2020
Ethical Will Should Be Part of Your Planning
My colleague’s father recently got infected with the coronavirus and had to be rushed to the hospital. The move was abrupt and hectic, and left no time for any deep conversation with his wife and family as he was being taken out to the ambulance.
December 22, 2020
Should a GRAT Be Part of Your Estate Plan?
Low interest rates and looming potential tax changes make this a good time for high-net-worth clients to use a special tool to transfer wealth: the grantor-retained annuity trust (GRAT), a strategy to reduce future estate taxes, by transferring assets to beneficiaries without using the lifetime gift tax exclusion.
December 21, 2020
How to Balance Homeownership and Medicaid
Many people work hard to acquire real estate and then later find that that real estate makes them ineligible for Medicaid to help pay for nursing home or in-home, long-term care.
December 17, 2020
Planning Is Different for a Child with Special Needs
It is critical that parents and grandparents give careful thought to any gift of money or bequest in an estate plan, when the recipient has special needs.
December 16, 2020
Probate Is Required For A Surviving Spouse
A common misconception is that you do not have to probate a will when your spouse dies.
December 15, 2020
Deciding Between Separate or Joint Trusts
In situations where both spouses want the surviving spouse to inherit all the assets, which is often the case, a joint trust can be far less complicated to set up and maintain than separate trusts, with less headaches for the surviving spouse.
December 14, 2020
There is a Difference Between Alzheimer’s and Dementia
While symptoms of Alzheimer’s and dementia do overlap, they should be treated as separate entities to best address the conditions medically.
December 10, 2020
How Do You Handle A Large Inheritance?
Let’s start with the numbers: 10 and 1,000,000,000,000. Over this decade, $1 trillion is expected to change hands through inheritance. The majority of that will end up in the hands of baby boomers. While one study found that the average inheritance was only $50,000, there will be a lot of inheritances in the $1 million-plus range.
December 9, 2020