A dramatic increase in the number of adults with developmental disabilities, coupled with their increasing life spans, presents planning challenges for parents. Special needs families are accustomed to things being more complicated, and retirement planning is no exception. Parents must plan for their own retirement as well as ensure that…
A legislative change made the use of trusts less necessary for most Americans, but there are still many situations where this planning tool is the best option. When the American Taxpayer Relief Act became law, the $5 million exemption and the new rules on portability of the exemption for married…
Whether or not an aging parent should live with their adult children raises issues for the parent and the children. There is no single or easy answer. It usually starts when one spouse dies and an aging parent suddenly seems alone and vulnerable. The parent may bring it up first,…
We often hear about families who squander fortune; we hear less about families that preserve their wealth and values over generations. Successful entrepreneurs often struggle with estate planning when it comes to their children. Will knowledge of large inheritances to come create spoiled and unmotivated adults? How can wealth be…
Consider the amount of time you spend on planning a one-week vacation. You’ll want to spend more time on planning your eternal resting place. A local television station in Sarasota, Florida aired a news story about a cemetery where the grass and weeds were so overgrown they sparked complaints from…
Planning to leave an inheritance for your children requires a careful examination of all of your assets, and insurance could be part of that plan. Most couples use term insurance to help protect their loved ones pay the bills after they pass. A question answered in the NJ 101.5 article “Do…
Estate battles among high profile celebrities are all over the news, but can a regular person contest a will if they feel that they were unjustly treated? You may have seen a million movies where kids are cut out of a will, but when it happens to you or someone…
Celebrities without wills provide teachable moments for why “regular folks” need to have wills and estate plans in place. When Prince died, he joined the ranks of multi-millionaire celebrities with a shared legacy of failing to plan for life after they pass away. This group lives on in endless articles…
Conferences nationwide mark World Elder Abuse Awareness Day and explore solutions to a growing concern. The University of Minnesota recently hosted a large conference focused on what is considered to be the next large national crime wave: elder abuse. Attending the conference were social workers, nursing home workers, lawyers, law…
Whether your love is animal rights or protecting the planet, a trust donation creates a legacy that reflects your values and supports the future. A woman’s love for animals was reflected in a significant trust donation given to the Little Rock Zoo, as reported in The Northwest Arkansas Democrat Gazette…