by Christine | Jun 27, 2013 | Elder Law, Estate Law, Joint Ownership |
I often see older people with other peoples’ names on their property as co-owners. Legally, the ownership is joint tenants with right of survivorship, meaning that upon the death of one joint tenant, the surviving joint tenant becomes the sole owner of the...
by Christine | Jun 26, 2013 | Estate Planning, Individual Retirement Accounts (IRA), Investments, Retirement Planning |
If you want to use your IRA to buy real estate, you need to understand what you can and can’t do. Did you know that IRAs can be used to own other types of assets, such as investment property? Most taxpayers don’t know about some great tax advantages gained with IRAs...
by Christine | Jun 21, 2013 | Digital Assets, Estate Planning, Virtual Assets |
Much has been written about how family members struggle to get access to the e-mail and social network accounts of loved ones who have died. They have sentimental value much the way photo albums and personal letters do. But far less attention has been paid to...
by Christine | Jun 20, 2013 | Beneficiary Designation, Estate Law, LIfe Insurance |
Words to the wise: keep beneficiary forms up to date. To change a beneficiary — for example, if you get married or divorced or your spouse dies — make sure to file an amended form. Even if your state has a law designed to cover oversights (or procrastination), you...
by Christine | Jun 19, 2013 | Elder Law, Estate Law, Family Law, Family Transition |
"When they are having trouble understanding bills and writing checks it might be time to step in, slowly, at the ground level," Kolinsky said adding that if parents initiate a discussion, the ideal time would be when they are in their 70s and still healthy....
by Christine | Jun 18, 2013 | Estate Planning, Inheritance, Trusts |
Many wealthy people worry about the potentially corrosive effect of making their children superrich. Not Larry Ellison. The Oracle founder and CEO, the third richest man in the United States — worth $43 billion, according to FORBES’ latest estimates — has never...
by Christine | Jun 17, 2013 | Charitable Deduction, Charitable Giving, Easement, Estate Planning, Valuation |
When you make a charitable contribution of anything other than money or marketable securities, there will always be a valuation issue. At least, it will usually be clear what it is that you are giving away. A conservation easement is different. ...
by Christine | Jun 13, 2013 | Estate Planning, Probate |
To avoid probate, the spouses should establish revocable trusts and transfer their property to the trusts during their lifetime. Estate planning may seem easy between spouses, but beware of the pitfalls of probate. The law tends to put a number of things on...
by Christine | Jun 12, 2013 | Elder Law |
Admitted in 1991, Mrs. Clark ended up staying until her death, giving the hospital at least $4 million in donations, not counting millions more she paid just to live there and a $1 million bequest in her final, contested will, according to court papers. Charitable...
by Christine | Jun 11, 2013 | Elder Law, Estate Planning |
If you haven’t had a conversation with your parents about handling their financial affairs after they die, Krysten Crawford’s tale may spring you into action. Certain “talks” or conversations are imperative, although some of those discussions are pretty difficult to...
