Adult day care centers provide care and companionship in a group setting to seniors who need supervision during the day, allowing their caregivers to go to work or take a much-needed break. The balancing act of caring for an elderly loved one can be difficult, expensive and exhausting. You want…
About 50 years ago, only 5% of the total assets of America's largest 50 foundations were held by spend-downs. In 2010, that number had risen to 24%, according to Bridgespan Group in Boston. Today's charitable foundations seem to be shifting from maintenance for longevity to spending down and winding up.…
Perhaps the more important detail of this story is that the home was sold in an estate sale by heirs who appear to have let the property go for considerably less than market value. Inherited property brings with it certain important responsibilities, and that goes double and triple for executors…
Time, it seems, has healed past wounds enough to leave us remembering Grandpa Oscar with a smile. Very belatedly the violin has served its purpose. We can hold on to the memories and let go of the object. Family heirlooms seem to have special powers over the family. Memories and…
“I had this fear that wealth could dissolve the family and the business would disintegrate,” Mr. Wiener, 68, said. So he hired coaches and consultants, had family meetings and set up a family foundation — all with the goal of keeping his family together after he died. “It’s not perfect;…
One of the key advantages of a portability-based estate plan over a credit shelter trust-based estate plan is that portability allows the married couple to obtain a second step up in basis upon the death of the second spouse. With the new ability to minimize estate taxation, known as “portability,”…
“This time it’s not about the beginning of life or how babies are made. It’s about the end of life — yours — and the many issues and decisions that will confront you and your children.” Back when the kids were kids, it seemed like the “birds and the bees”…
There are several ways to donate a life insurance policy to charity, according to the Planned Giving Design Center, Monroe, NC. There are many advantages to life insurance as it can be a cushion against high-cost issues or a source of much-needed cash flow for your family. However, you might…
FLPs offer multi-layered benefits by providing senior family members with several advantages—all without ceding control of the assets to junior family members. Estate Planning is often a game of give and take. So what if you want to give away your assets, but not just yet? As is so often…
Alzheimer’s patients live for years with diminished mental skills, which makes it crucial that they make decisions early on about how their care should proceed. Planning for one’s estate and for one’s late-in-life plans requires more than a bit of wherewithal. This is not only an empirical fact but also…