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Trusts have been around for a very long time and it is important to understand how they work. A trust can be quite complicated. That is why you need good legal representation in order to use one properly, according to the Pittsburgh Post-Gazette “Do I need a trust?“. Trusts are created using a tailored trust […]
With the traditional family on a downward trend, the modern family is raising some new questions for estate planning. The rising numbers of modern and blended families have created some challenges for estate planning, according to Forbes in “How Long Will Stepmom Live? And Other Vexing Estate Planning Questions for Modern Families“. An example is […]
Giving for the tax break or to better your community? Or Both? Some people donate to charities primarily for the tax breaks, so the U.S. Tax Cuts and Jobs act may cause them to review their charitable giving, says Barron’s Penta in “How to Leave Assets—With an Immediate Tax Write-Off”. The charitable deduction for gifts […]
Start planning long before a visit is needed. Careful planning can often help patients with Alzheimer’s to be more relaxed and comfortable if the day comes when a trip to the emergency room becomes necessary, according to The Advocate in “Alzheimer’s Q&A: What should I know before taking someone with Alzheimer’s to the emergency room“. […]
Life insurance isn’t taxable to beneficiaries but there can still be a tax involved. An Irrevocable Life Insurance Trust or “ILIT” can be a key part of your overall estate plan, according to JD Supra in the article “Estate Planning: The Irrevocable Life Insurance Trust“. An ILIT can be used to take the life insurance […]
Social Security options need to be approached carefully. Many people have been known to confuse “Restricted Application” with the “Claim and Suspend” strategy and that can cause some problems, according to Forbes in “Put Thousands In Your Pocket By Taking Advantage Of the Social Security ‘Restricted Application’“. Both tactics require you to be at Full […]
If the clients wait until the last minute, panic can set in. A woman and her team focus on the difficulties of the work as well as the emotional challenges faced by Baby Boomers who opt to downsize, according to Columbus CEO’s article “Estate Planning and Retirement: How to Downsize Like a Diva.” One of […]
Offers to leave your job with compensation are growing at a considerable rate. The offering of early retirement has grown tremendously in the U.S. However, it is important to think the options through carefully before making your decision, according to Money in “This Is the Only Time You Should Accept an Early Retirement Offer“. Job […]
How many people over the age of 45 do not have a prepared will? Two out of Five! Many people seem to have difficulty getting started with an estate plan. However, it really doesn’t take much to do the planning necessary to help family members who survive you, according to the Lebanon Democrat’s article “End-of-life […]
It sounds financial but it isn’t. It is all about the person’s behavior in the relationship. A fiduciary relationship is a legal relationship that includes responsibilities that can be enforced and it is important to look closely at it, according to the Denton Record-Chronicle What is the “F” word?“. In a fiduciary relationship, whether between […]
