by Christine | May 28, 2013 | Divorce, Elder Law, Marriage, Social Security |
Robin Brewton, who advises clients on Social Security benefit strategies, has boosted retirees' financial security with a single question: Are you divorced? There are several new challenges today’s retiring generation is facing, with the volatility of Congress and...
by Christine | May 24, 2013 | Estate Tax, Inheritance Tax |
Even if death and taxes are the only things certain in life, state legislators say they can never be certain about death taxes. The fiscal cliff-bridging budget set and made “permanent” the estate tax at a generous $5.25 million exemption amount. Good news, right? But...
by Christine | May 23, 2013 | Estate Law, Individual Retirement Accounts (IRA), Inheritance, IRA Rollover |
John and Sue were both 75 years old last year. They both took their RMDs for the year. John died early in December. Sue was his beneficiary. She rolled his IRA into her own IRA in January. The question was – “What is Sue’s RMD for this year?" The different ways...
by Christine | May 22, 2013 | Elder Care, Elder Law, Estate Planning |
“To the extent that there is a disconnect between parents and their grown children on these financial topics, our data show that families can look to mom to help bridge that gap,” says Lauren Brouhard, senior vice president of retirement in Fidelity’s Personal...
by Christine | May 21, 2013 | Elder Care, Hospice |
"The effect is very negative for end-of-life care in the country. The way hospice is designed now may have worked fine 30 years ago, but it doesn’t work now and we need to think about alternatives." U.S. health care has been in flux since 2010, with many...
by Christine | May 20, 2013 | Elder Care, Elder Law, Tax Law |
There was no contract, no invoice, and no evidence the family agreed to pay him anything. Sure, Anthony gave round-the-clock care. The family would have hired round-the-clock nurses if he hadn’t been there. If you find yourself taking on the responsibility of a...
by Christine | May 17, 2013 | Asset Protection, Limited Liability Company (LLC), Small Business |
In terms of new formations, the Limited Liability Company (“LLC”) is the new King. The former King, the corporation, has been deposed, and relatively few corporations are now being formed other than for companies that have a future hope of being publicly-traded, or...
by Christine | May 16, 2013 | Estate Tax, Gift Tax, IRS |
In 1972, President Richard Nixon cruised to re-election. “The Waltons” premiered on CBS. And Sumner Redstone, who wasn’t yet a global media mogul, (allegedly) made a taxable gift to his children and failed to file a return. Why wouldn’t you file a gift tax return if...
by Christine | May 15, 2013 | Charitable Giving, Individual Retirement Accounts (IRA) |
Tax-free transfers are limited to those over age 70½ mainly to contain the drain on the federal budget. One thing you should never forget about your IRA – even though you make contributions with pre-tax dollars, and once inside these accounts your money grows...
by Christine | May 14, 2013 | Estate Law, Estate Planning, Wills |
Nearly 2.5 million Americans died last year, many without signing a will. One of them was apparently Roman Blum, a Holocaust survivor and New York real estate developer who was worth almost $40 million when he passed away in January 2012 at the age of 97 … If, after...
