An increasingly important aspect of a person’s financial life is that many people now receive and pay bills through online accounts and/or through email. Similarly, bank, brokerage and retirement accounts may also be maintained and accesses electronically. A bill may come via email and if an executor or attorney-in-fact does not know the person’s password… Continue Reading
Category Archives: Estate Planning
Cinderella Should Have Been a Trust Beneficiary
Awhile back I was watching Cinderella with my three year old and thought – Wow, if only she was a trust beneficiary she wouldn’t be locked in the tower slaving for her step-sisters. For those who don’t recall, the setup for the story is that Cinderella’s mother passed away; then her father remarried the evil… Continue Reading
Another Time to Update Your Estate Plan
I am frequently asked: “When should I update my estate plan?” Normally, the first answer is anytime you have a major life change such as a marriage, child, divorce, etc. One of the most significant events isn’t really an “event” at all but something that often occurs in a more gradual manner. That is the… Continue Reading
Planning for Long Term Care Can Pay Big Dividends
Planning for long term care can pay big dividends if you plan ahead. We’ve all heard the numbers, approximately 10,000 baby boomers reach retirement age each day. For individuals over age 65 there is a better than 70% chance they will need some type of long term care services during their lifetime. With the cost… Continue Reading
Income Tax Planning
With the new estate tax exemption limits at $5.25 million, planning for income taxes has become as important as estate planning for higher income earners. In the past, an advisor may recommend parents give money to a younger generation. While this is still a good and valuable strategy, a new strategy has emerged. Parents more… Continue Reading