If you change your state of residency without doing your homework, you may have unintended consequences if you have remarried. You may be like many Michigan seniors who have entered into a second (or third or more) marriage. Many widows …
Articles
Pay Taxes Later on the Sale of Your Real Estate
It’s a seller’s market out there now for real estate. I know of a number of sellers who have received multiple offers on their real estate. For most people, when you sell your home, you will not have to pay …
Annuities – The Untold Story
You have worked hard your entire life to save up your nest egg. It might be your IRA, 401(k), tax sheltered annuity or brokerage account. You want to find a place to park your nest egg that is safe, but …
Beware of the Five-Fee Estate Planner
You go to your estate planner to have your financial and health care powers of attorney, will and trust drafted or updated. Oftentimes, it is challenging to choose the people who are going to handle your finances and property when …
New Tax Rules for Trusts and Estate in 2018
The Tax Cuts and Jobs Act of 2017, signed by President Trump on December 22, 2017, made numerous changes to the taxation of trusts and estates for 2018. The new tax act was business focused and overall was helpful to …
Are You Prepared?
You have probably heard of the Scout motto, “Be Prepared.” The motto was devised in 1907 by Robert Baden-Powell, an English soldier who founded Scouting. He was once asked the inevitable follow-up question, “Prepared for what?” His response was “Why, …
Business Provisions of 2017 Tax Cuts and Jobs Act Effective in 2018
Last week, we discussed the individual provisions of the Tax Cuts and Jobs Act of 2017, which was signed by President Trump on December 22, 2017. This week we are going to cover the business provisions of the act which …
2017 Tax Cuts and Jobs Act – How It Affects You in 2018 and Beyond
You have probably heard about the new tax act. On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act of 2017. Although a number of the recent tax acts were made retroactive to the beginning …
Claiming Unclaimed Property in Michigan
There are numerous ways that the unscrupulous will try to separate you from your money. Have you ever received a letter or phone call from someone claiming that they found money that is owed to you? It appears that the …
Wouldn’t it be Nice to Have a Personal Financial Assistant?
Are you a senior and still handling your own bills, investments and finances? If so, studies have shown that you likely believe that you can handle your financial matters as well as you could when you were in your 40’s …