“In February, Social Security officials calculated that a woman who was sent monthly checks for decades was 114 years old. The problem? The lifelong New Yorker died more than 40 years ago—and may never have seen a penny of her retirement checks totaling nearly a half-million dollars.” In one of the largest fraud cases of […]

“Estate planning can come in a variety of forms, from basic beneficiary designations when you open a bank or brokerage account to more complex and comprehensive plans.” The key reason for estate planning is to create a plan directing where your assets will go after you die. The ultimate goal is for wealth and real […]

“Develop a successful transition plan that will provide for you, your heirs and your business.” Most American farms or ranches are family businesses, started by one generation with the hope that the business will be transferred to the next generation. However, surveys show that only 20% of farm and ranch owners are confident they have […]

“Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.” Beneficiary designations supersede all other estate planning documents, so getting them right makes an important difference in achieving your estate plan goals. Mistakes with beneficiary designations can undo even the best plan, says a recent article “5 Retirement Plan Beneficiary Mistakes to […]

“As family members age and require care, the burden of that care often falls on an adult child. For those that leave jobs to care for family members, it can become a financial hardship for the family.” The idea that a family member or trusted friend may be paid to take care of an aging […]

“Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.” There are a few things all trusts have in common, explains the article “All trusts are not alike“, from the Times Herald-Record. They all […]

“When creating an estate plan, one important question to consider is how to handle the transfer of personal property, including your home. A Qualified Personal Residence Trust, or QPRT, is something you may decide to create to minimize gift and estate taxes associated for your heirs.” Qualified Personal Residence Trusts Attorney: What Is a QPRT? […]

“Windfalls can result from fortunate events, like lottery winning, and unfortunate events, like a legal settlement. Whatever the triggering event, a big injection of cash can certainly be a life-changing event in someone’s life.” Few would complain about a financial windfall, but many people report feeling feelings of anxiety, guilt and stress about what to […]

“Creditors typically try to collect on unpaid debt, by going after the decedent’s estate during a process called probate.” When a person dies, it’s not unusual for them to leave behind some unpaid debt. What happens to that debt depends upon how their estate was organized, says the article “This is how your unpaid debts […]

“’Per stirpes’ vs. ‘per capita.’ Making the wrong choice could cause an estate planning disaster.” No one relishes the idea of planning for their own death, but the alternative of not planning and leaving your family members to sort out an expensive mess is a poor way to be remembered. According to a recent article […]