New Tax Law Means Your Estate Plan Needs a Review
Whenever there is a big change in the tax law, it’s a good idea to review your estate plan to ensure that you are not missing any opportunities. The Tax Cuts and Jobs Act of 2018 is no exception. A…
How Do We Create a Realistic Budget for Retirement?
If you fall prey to the rose-colored glasses approach to retirement, you may be in for unpleasant surprises when retirement finance gets real. Be prepared and avoid these fictions. During our working years, it feels like we’ll never actually get…
Health Care Directives and End of Life Planning Exemplified by Two First Ladies
Barbara Bush’s final days are an example of what some call “a good death.” She left this world with dignity and on her terms. Her health care directive likely ensured that her wishes would be followed, and is an example…
Why Does My Estate Plan Need to be Reviewed?
Tax laws change, so do lives. You could be missing out on planning opportunities, or forget to make an important change that cannot be fixed after you pass. Creating an estate plan entails a detailed review of every aspect of…
When Do I Start Taking Required Minimum Distributions from an IRA?
Putting money into an IRA is not complicated, but taking it out can be tricky. Warning: mistakes can be costly! Does your 70th birthday fall before or after July 1? That is an important factor in determining when you must…
Surprise! The Biggest Threat to Your Inheritance is Not the Estate Tax
Conflicts between family members actually lead the list of threats to inheritances. Wealthy families and business owners are advised to plan proactively to prevent estate battles. If there’s a generous inheritance in your future, be aware that the relatives you…
To Kill a Mockingbird Author’s Estate Sues to Stop Stage Adaptation
A stage version of the novel was optioned by the author months before she passed, but now the estate is alleging that producers have broken the contract, with too many changes from the original novel. The first draft of a…
Frasier Crane’s TV Dad Leaves $5 Million Estate
Before he devoted more than a decade to playing the retired father of TV’s “Frasier,” John Mahoney was a well-known actor, appearing in plays and movies. The size of his estate and the expected number of beneficiaries is evidence of…
Fight Elder Abuse in Your Family with Vigilance and Involvement
It’s a sad fact, but many of the worst crimes against seniors are committed by members of their own family, and most of them go unreported. Elder abuse, including financial abuse, often starts when relatives ask their victims to provide…
New York’s Rudy Giuliani’s Facing a Costly Divorce
With no prenup, millions at stake and a desire to keep a low profile, this former mayor may find himself at the center of an ugly divorce—again. The deck on the split between Rudy Giuliani and his wife Judith is…