You Don’t Have to Be Famous to Need a Will!
All a celebrity has to do is die without a will and the details of their lives are all over the news. There’s a fascination with seeing how those who have achieved a high degree of success, fortune and fame create an epic fail, when it comes to planning for their demise. We can’t all…
Read MoreRetirement Planning Doesn’t Stop with Retirement
Being retired requires you to become the Chief Financial Officer of your own life. You need to manage your income, including Social Security, distributions from retirement accounts and any other sources and oversee investments. Most people think of retirement as the time that they don’t have to make a lot of decisions or work very…
Read MoreHow to Make Sure You’re Remembered
How do you ensure that you’ll be remembered as time and generations continue after you’re gone? One way to create a legacy is through the use of life insurance. According to this article in MarketWatch, “5 ways to make a great impression after you’re dead,” life insurance is the Swiss Army knife of creating a…
Read MoreProceeds from Auction of Famed Playwright’s Collection to Benefit His Foundation
One of America’s legendary playwrights was also an avid art collector, who amassed an extraordinary art collection. Unlike many collectors, he lived with his art, and it filled his downtown New York City loft. The Edward Albee Foundation will be the beneficiary of proceeds from the sale of playwright Edward Albee’s museum-quality art collection, which…
Read MoreElder Abuse Law in Arizona Clarified by Supreme Court Ruling
The standard governing nursing home abuse suits is too restrictive, and runs contrary to the aims of state law, according to a recent decision from the Arizona Supreme Court. With a decision that dismantles a four-part test established in 2002, the Arizona Supreme Court has reversed and remanded a Pima County court’s granting of summary…
Read MoreChanging the Value of an Estate before Death
Certain situations present opportunities to lower the value of an estate before death, thereby decreasing tax liabilities for heirs. In cases where a loved one is on life support for an extended period time and is legally incapacitated, there may come a time when the family is faced with a one of the most difficult…
Read MoreNon-Spouse Beneficiaries and Inherited IRAs
Understanding tax liabilities and complex rules when inheriting an IRA, especially for a non-spouse, can be daunting. Don’t hesitate to ask for help: mistakes can be costly. People respond in a variety of different ways when receiving an inheritance from a loved one. Sometimes grief is mixed with excitement over the possibilities presented by the…
Read MoreLove Means Never Having to Say “I Can’t Find That”
Do yourself and your loved ones a big favor: organize the avalanche of paperwork, document and files. Shred what you don’t need. Your family will always remember you for this! Giving your family the gift of a relatively seamless transition following your demise, is one of the many reasons for estate planning, including creating a…
Read MoreSmall Changes Add Up for Big Retirement Savings Impact
“If you kick in a measly $20 a week to your retirement account, you’ll end up with an extra $173,000 forty years later, if your investments grow an average 6% a year compounded quarterly.” Do the math and you’ll see how quickly it all adds up. Making a small change, like bringing your own bottle…
Read MoreBusiness Owner’s Estate Plans Should Include a Buy-Sell Agreement
A buy-sell agreement does more than protect the business owner, it protects the business owner’s heirs. Creating a buy-sell agreement for a business owner is a lot like a will—it needs to be updated to reflect changes in partnership agreements or the departure of the owner or a co-owner from the business. As reported in…
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