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You Are Never Too Young For A Will – Amy Winehouse’s Death Illustrates That
You are never too young for a Will. A will is a document that lets you tell the world who you want to get your assets. Die without one, and the state decides who gets what, without regard to your wishes or your heirs’ needs.
Posted in Estate Planning
Tagged estate plan, trust, will
Estate Tax Portability
In the past, we’ve advised married clients to divide their assets between their revocable trusts in such a way as to “equalize” their estates. The reason for this was that we could not know who would pass away first and we wanted to be sure that each spouse could maximize his or her individual exemption allowed under the law. In December 2010, President Obama signed the new tax law to take effect for January 2011 through December 31, 2012, which provided that married couples could elect to combine their individual $5 million exemptions to a $10 million joint exemption for the couple, so that a surviving spouse could apply the predeceased spouse’s unused exemption upon the survivor’s death. Continue reading
Posted in Estate Planning
Tagged estate tax, estate tax exemption, estate tax portability, marital estat tax, marital estate tax
Reverse Mortgage
We frequently have clients whose health is deteriorating and whose finances are becoming strained, but who have strong feelings regarding staying in their homes. Perhaps they do need round-the-clock nursing care brought into their home, or they may fear becoming isolated if they leave their neighborhoods, churches or friends to move into a facility.
Posted in Uncategorized
Tagged reverse mortgage
Celebrity Estates Part II: The Good, the Bad, & the Ugly
Clients often ask me whether they need a Will or not. Although the answer is different for everyone, I am a strong believer that not everyone needs a Will or even a Trust. Continue reading
Posted in Estate Planning
Tagged estate plan, trust, will
Celebrity Estates: the Good, the Bad & the Ugly
When clients come to my office to prepare an estate plan, we will meet initially to create the strategy and determine what the client wants in their plan, whom they want to provide benefit for and how. Continue reading
Posted in Estate Planning
Tagged estate plan, funding the trust, trust
Connecting the Dots for Caregivers
When Mary learned that her husband of 56 years was diagnosed with Alzheimer’s disease, she was faced with the reality that John had a terminal disease that is currently the sixth leading cause of death in the United States*1!
Posted in Long-Term Care Planning
Tagged Alzheimer's disease, care for loved one, caregivers, long term care, terminal disease
Who Wants to Go to a Nursing Home?
When I give presentations to families who are concerned about needing home care for themselves and their loved ones, I always ask, “Who wants to go to a nursing home?” Not surprisingly, no one ever raises their hand.
Posted in Long-Term Care Planning
Tagged assisted living, caregiver, elder day care center, long term care, nursing home
Your Estate Plan: Leaving a Legacy
Estate planning is primarily about how to pass your property on after your death to the recipients of your estate with a minimum of fuss, expense and taxes. But, it is about a lot more as well.
Posted in Estate Planning
Tagged attorneys fees, estate plan, estate taxes, legacy, trust, will
10 Reasons to Create an Estate Plan Now
Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan; however, estate planning is for everyone, regardless of age or net worth.
Posted in Estate Planning
Tagged assets, estate, estate plan, plan, trust, will