I occasionally have discussions with people receiving inherited IRAs who think that they can escape both income and estate taxation on the IRAs because of the step-up in tax basis rule. You may have heard of the step-up in tax …
Articles
Real Estate in Your IRA
You have found the perfect investment property, the price is low and the seller wants to unload it. However, you don’t have the cash to purchase real estate except in your IRA. If you just take the funds out of …
Is Equal Fair
If you are like most parents, you want to treat your children fairly when giving lifetime gifts or a share of your estate. You have worked hard over your lifetime to accumulate your property. You should be able to give …
What If The Estate Has More Debt
What if Mom or Dad has died and they have really racked up the debts? In order to pay the bills, they took out home equity loans or charged up thousands or tens of thousands of dollars on their credit …
Health Care Powers
Have you ever thought about who would make your medical or mental health treatment decisions if you could not because of incapacity due to an accident, illness or injury? You probably have thought about it, but have you done anything …
What Do We Do With The Car
Have you ever thought about what is going to happen with the family car after your death? The answer is the typical legal answer, depends; and I am not talking about the kind you wear. If your car is in …
Incapacity and Financial Powers of Attorney
Have you ever thought about what would happen to your real estate, bank accounts, investments and other property (your “stuff”) if you could not take care of them because of incapacity due to an accident, illness or injury? How would …
Medicare Part C Where’s the Advatage
Since it began in 1965, Medicare has provided a basic level of health insurance for the vast majority of seniors. That system evolved into Medicare Part A, which includes hospitalization and rehabilitative care after hospitalization and Part B, which includes …
Medicaid Eligibility-Top 8 Mistakes
1. Thinking it’s too late to plan. It’s almost never too late to take planning steps, even after you have moved into a nursing home. It does not matter whether you are single or married, have $40,000 in assets or …
Staggering Your Retirement
You may have retired but your spouse has not. The Center for Retirement Research indicates only 20% of couples retire in the same year and that 50% still have one spouse working two years after the other spouse has retired. …