Couples often bring children into a marriage from a prior marriage or union and then have children together. This is often referred to as a blended family. Blended families highlight the need for careful estate planning to make sure the…
We never know when tragedy will strike, an accident occurs, or a diagnosis of a serious illness is given. Having an estate plan, including these specific documents, is part of being a responsible adult and preparing for whatever the future…
With less room for error, it makes sense that someone with a modest home and retirement savings needs estate planning to protect their families. When a billionaire loses half of his wealth in a divorce, they’re still wealthy. But when…
Parkinson’s disease is a neurodegenerative disorder that causes a progression of symptoms including, body tremors, limb rigidity, Bradykinesia (slow movement), as well as balance and gait problems. The cause of Parkinson’s disease (PD) remains largely unknown. One well-known indicator of…
If you want a simple way to pass a part of your estate to a spouse, one way to do it is through the use of Transfer on Death (TOD) accounts. Many spouses share a checking and savings account. Both…
Data from one source points to one state—New Mexico—as the new hot spot for retirees. It may be a stereotype, but didn’t everyone on the East Coast retire to Florida, and everyone from the Midwest went to Arizona? That’s all…
An expanded life expectancy is a blessing, but it could also be a curse, if you run out of money and there’s no way to generate any new money. Deferred annuities are an option. A study from the Employee Benefit…
Where many succession plans go off the rails, is when they focus solely on the economics of the business. That may work fine for a corporation, but for a family business, the dynamics and relationships of the family members must…
The gift tax is a tax on the transfer of assets, cash or property, to another without receiving something of equal value. The asset has to be of a certain value for the tax to apply; otherwise, it falls under…
Both banks and financial advisors are starting to take a more pro-active role in preventing financial abuse. It’s common sense, since they are often the first to see questionable transactions. Don’t be surprised if your next visit to a financial…