by Christine | Apr 1, 2013 | Elder Law, Estate Planning, Individual Retirement Accounts (IRA), Power of Attorney |
A POA is a legal document that is based on your state’s law that authorizes someone to act on your behalf. A Power of Attorney (POA) is an essential tool for your estate plans, and a mighty strong one at that. In effect, every adult should have one. Like most legal...
by Christine | Mar 29, 2013 | Estate Planning, Individual Retirement Accounts (IRA), Inheritance, Inherited IRAs |
Let's say that someone who is not your spouse recently died and named you as their IRA beneficiary. You now have what the IRS calls an “inherited IRA.” When you inherit money, once you receive it you can usually decide where it goes from there, such as a simple...
by Christine | Mar 28, 2013 | Estate Law, Estate Planning, Mediation, Wills |
…In general, the lasting anger and bitterness of litigation doesn't seem to occur when matters are settled by mediation. Inheritance battles are nothing new. We see several of them make their way into courtrooms far and wide, exposing the family “cat fight” for...
by Christine | Mar 27, 2013 | Elder Care, Elder Law |
Already, 5.2 million Americans have Alzheimer’s or some other form of dementia. Those numbers will jump to 13.8 million by 2050 … The latest numbers are in from the Alzheimer’s Association, and reports show one in three seniors dies with Alzheimer’s or other dementia....
by Christine | Mar 26, 2013 | Elder Abuse, Elder Law, Power of Attorney |
Statistics on power of attorney abuse are hard to come by, but experts recognize it as a prevalent problem. There will come a time at which you will need to legally delegate someone to handle your financial matters. This legal delegation, known as a “power of...
by Christine | Mar 25, 2013 | Estate Planning, Exit Strategy, Small Business, Succession Planning |
Most exit plans I’ve dealt with are some combination of these three basic techniques. And, the lines that differentiate them can be fuzzy. Owning and running a business is tough stuff, and at times you feel the weight of the world on your shoulders. But leaving your...
by Christine | Mar 22, 2013 | Business Sale, Buy-Sell Agreement, Estate Planning, Exit Strategy, Family Business, Small Business, Succession Planning |
Dad wants to eventually sell the family business to his daughter. She has the smarts, drive and desire, and he doesn’t want to work forever. Not only does he want the business to be a success for her; but, part of his retirement income will be dependent on her making...
by Christine | Mar 21, 2013 | DOMA, Marriage, Same Sex Estate Planning |
In bringing her case to the Supreme Court, Windsor argues that DOMA violates the U.S. Constitution's guarantee of equal protection. DOMA backers say the law is valid. Same-sex marriage has been a controversial issue in American politics, and will likely continue...
by Christine | Mar 20, 2013 | Decanting, Inheritance, Irrevocable Trust, Trusts |
"It's like decanting a bottle of wine; you pour the wine into a new bottle to air it out," says Mark Haranzo, a partner at law firm Withers Bergman. In trust terms, you pour the assets of an old trust into a brand-new trust that essentially allows a...
by Christine | Mar 19, 2013 | Estate Planning, Marriage |
…More than 40% of women and more than half of men over 50 who get divorced end up remarrying, according to Census Bureau data. For folks like these, all sorts of financial considerations can complicate the question of whether and how to go about remarrying. Although...
