A comprehensive estate plan ensures that wills, trusts, ownership forms and beneficiary designations are in sync with your wishes. Is your plan up-to-date? As the old adage puts it, most folks do not “plan to fail, they just fail to plan.” In this sense, leaving an inheritance behind can get…
Done right, death-bed revisions may save their families income and estate taxes and prevent misunderstandings and administrative hassles. If not handled carefully, though, it can leave a will open to legal challenges that can drag on for many years … During one's final hours, people tend to review their last…
Estate planning is the process of legally structuring the future disposition of current and projected assets. Estate planning is many things. In order to present a solid definition of this particular type of planning, a recent Forbes article posed the question, “What Is Estate Planning?” The article concludes that “Estate…
Starting in 2014 … the basic exclusion will go up to $5.34 million per person, from $5.25 million this year. [However,] there will be no change in the annual exclusion, which allows you to give $14,000 in cash or other assets each year to each of as many individuals as you…
Millions of Americans are managing money or property for a loved one who is unable to pay bills or make financial decisions. This can be very overwhelming. But, it’s also a great opportunity to help someone you care about, and protect them from scams and fraud. Handling finances can be…
Give a copy of your wills, trusts and powers of attorney (financial and health care) to anyone named or authorized to act on your behalf, and store the originals at home; otherwise, your children could have trouble getting them at the critical time. The best laid plans of mice and…
Coping with the death of a loved one is difficult enough without the added pressure of creditors calling you to collect on the deceased person’s credit card debt. But can a bank collect a credit card debt owed by your deceased parent or spouse? By and large, we talk about…