Unfinished Work of Famed Playwright to be Destroyed
It’s not always easy for the living to honor the wishes of the dead, and in this case, we may never know what Edward Albee was working on, if his wishes are carried out. Edward Albee was very specific in the directions included in his will, as reported in The New York Times in “Edward…
Read MoreTime to Have That Money Talk with Aging Parents
It’s not an easy conversation to have, since you have your own personal finance matters. But there’s another piece of your financial life to consider: your parents and their finances. Here’s how it often goes: you don’t think you have to worry about Mom and Dad and their money situation, now that they’re both retired.…
Read MoreWhat to do When Family Members are the Abusers
Financial elder abuse is more likely to come from family members or caregivers than a scammer who promises to deliver millions. The latter is more dramatic, but the family or caregivers are just as harmful. An all-too-common situation of one adult child trying to protect his elderly father from siblings and their spouses is described…
Read MoreHow to Make Gift Tax Part of Your Tax Planning
Did you know that the donor is responsible for paying any gift taxes, not the recipient? When you think of tax planning, most people think about minimizing the amount of taxes we pay every spring when we file taxes. But there are provisions in the tax law that focus on gifts, and if gifting is…
Read MoreNew Laws in Tennessee Focus on Elder Abuse
They’re getting tougher in Tennessee, thanks to a new law that is geared to revamp state laws protecting the elderly. With stiffer penalties, that include more jail time and higher fines than those imposed in the past, a new law has taken effect in Tennessee to protecting older citizens against individuals who are convicted of…
Read MoreWhy Wills and Estate Planning are Not Do-It-Yourself Projects
Estate planning attorneys are often called upon to repair the damage, after homemade wills are found to be invalid. It sounds like a great idea, kind of like building your own furniture or baking your own bread. But wills and estate plans are governed by state law, and laypeople often run into problems when drafting…
Read MoreWomen and Retirement: Special Challenges
Women who are widowed or divorced or those whose careers are impacted by raising children or caring for a loved one, are in a more precarious position than their male counterparts when it comes to retirement finances. A third of all widows lose their husbands before age 60, and a half of widows lose their…
Read MoreIs a Revocable Trust Right For Your Estate Plan?
Creating an estate plan offers peace of mind for the individual and their family. Revocable trusts are a good fit for many estate plans. Also known as “living trusts,” a revocable trust is a very flexible document that can be modified during your lifetime to reflect changes in your family or in your circumstances. They…
Read MoreHow to Prove Heirs Have Ownership of Mom’s House
Having a properly prepared will that clearly states your wishes, is the most important part of passing an asset like the family home to your children. Understanding the process by which real property is passed along to heirs, can give peace of mind to parents who are concerned about leaving a legal tangle for their…
Read MoreNext Up for Inheritances: Millennials and Gen Xers
The next few decades will see a vast amount of wealth transferred from Baby Boomers to their children. The question is, will those children be ready to manage new wealth? Almost $30 trillion in assets has already started to pass from one generation to the next, according to Delaware Online in “You’ve just inherited a…
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