by Christine | Mar 7, 2013 | Estate Planning, Insurance, Small Business |
When it comes to the growing use of sophisticated wealth transfer mechanisms like trusts and limited liability companies by individuals, the details include complicated insurance considerations that must be expeditiously addressed. If not, the devil—in this case a...
by Christine | Mar 6, 2013 | Estate Planning, Retirement Planning, Roth IRA |
Seniors who convert a regular IRA into a Roth account can reduce their estate taxes and eliminate the income tax their heirs would otherwise have to pay on withdrawals taken from an inherited regular IRA. Seniors who convert a regular IRA into a Roth account can...
by Christine | Mar 5, 2013 | ATRA 2012, Estate Law, Estate Tax |
"Everybody should think about their estate regardless of the level of assets," says Barry Fischman, a partner at accounting firm Marcum. "The biggest hurdle is psychological. People say, ‘I'm not ready to do anything. I want to maintain control...
by Christine | Mar 4, 2013 | Elder Law |
Veronica, age 75, is struggling with a dilemma. Her husband, 10 years older, is “losing it” as she put it. He is dangerous because he is so forgetful. Mort is neglecting to pay the bills and make deposits. She was very shocked and stressed about...
by Christine | Mar 1, 2013 | Elder Care, Insurance, Long Term Care |
While life insurance has long been priced by sex, companies that provide long-term care insurance (LTCI), mainly used to cover healthcare expenses in old age or for severe illness, have long avoided it. But for the first time this year, they will introduce...
by Christine | Feb 28, 2013 | Estate Planning, Pope, Succession Planning |
Pope Benedict, 85, is reportedly the first pope to retire in almost 600 years, which made his decision all the more momentous. But since the pope believed his health issues were impacting his job, the decision seems relatively clear-cut. For the growing number of...
by Christine | Feb 27, 2013 | Beneficiary, Beneficiary Forms, Wills |
Do you love your beneficiaries enough to take the time to check up on your beneficiary forms for your retirement accounts? You want to ensure the your plans are carried out for your loved ones when you are no longer here, and your will is the powerful tool you have...
by Christine | Feb 26, 2013 | Estate Law, Estate Planning, Executor |
It is important for an executor to pay close attention to detail and engage in a careful, deliberative process. And remember that the best advice will come from an experienced and knowledgeable estate planning attorney. Scenario: You’ve been named the executor...
by Christine | Feb 25, 2013 | Procrastination, Tax Return, Taxes |
The IRS still needs time to prepare dozens of other forms and software programs for new and retroactive tax exemptions, credits, and other provisions tucked into the fiscal cliff bill, passed by Congress and signed by President Obama in early January after months of...
by Christine | Feb 22, 2013 | Charitable Giving, Estate Planning, Family Foundation, Succession Planning |
One issue that some families have encountered is that the types of philanthropy favored by one generation may not be the ones favored by the next — something that could cause strife if not addressed. Ensuring continuity of both your family harmony and your family...
