You have spent the better part of the last fifty years collecting stuff. It may be baseball cards, Coca Cola memorabilia, dolls, classic cars, Cybis figurines, coins or it could be post cards and books. What will happen to your …
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Protecting Unmarrieds Shackup Agreement
You and your partner have been living together for years, maybe even decades. You have a committed relationship that may even have been blessed by your church, but for a variety of reasons, you will not be married. It could …
Roth IRAs
It’s not too late to make IRA contributions for 2013. If you make a qualifying IRA contribution before April 15, 2014, you can elect to report it on your 2013 or 2014 individual income tax return. You can contribute up …
Financial Literacy and Aging
It’s a fact of life. As you age, your physiological systems slow down. You probably notice the physical indications of this every day. You do not go up and down the stairs as easily as you used to. It is …
Seven Most Common Trust Mistakes
We haven’t discussed mistakes and misconceptions that many people have regarding trusts in a while. You may have a revocable living trust in your estate plan. Living trusts are very powerful planning tools that you can use for all kinds …
The Court Can’t Stop Stupid
In a Dear Abby column sometime ago, there was a letter from Conflicted Sis In Maryland. Conflicted Sis explained that upon Grandmother’s death, Grandmother left some money to her grandson who was a life-long drug addict. That grandson was Conflicted …
Younger Adults Need Planning Too
You may be a younger adult. If you are like most young adults, planning for your retirement is one of farthest things from your mind. Planning for your disability, death or other catastrophe is even farther from your mind. It …
How to Leave an Inheritance to a Child or Other Beneficiary
You want to leave everything to your children or other beneficiaries after you are gone. If you are like many people whose estate plans I have reviewed, you may have just left immediate outright distributions to them. However, when you …
Titling of Assets
So you now have your trust. In addition to your trust, your estate plan should also include, at a minimum, your financial and healthcare powers of attorney and your pour-over will. Your financial and healthcare powers of attorney will allow …
Wills Guarantee Probate
Last week, we talked about what happens when you do not have a will. This week, we will discuss what happens when you do have a will. When you have a will, it only takes effect after your death. This …