You may be taking care of elderly parents now or looking at that possibility in the near future. According to a report from USATODAY/ABCNews/Gallup Poll, 41% of baby boomers are helping take care of elderly parents by providing personal help …
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New Tax Law Increases Tax Free Inheritance
You have all probably heard that on December 17, 2010, President Obama signed the 2010 Tax Relief Act, which is actually called the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The main purpose of this act …
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 …
Don’t Forget to Update Your Estate Plan
You finally have been able to complete your estate plan. You have financial and health care powers of attorney, a will and maybe even a trust. It often takes a long time to get up the nerve to go to …
The Court Can’t Stop Stupid
You may have read Dear Abby’s column last week from Conflicted Sis In Maryland, in which Grandmother left some money to her grandson who was a life-long drug addict. Grandmother named grandson’s sister as executor (personal representative in Michigan.) Sister …
If There Is No Will, There Is A Way
If you are like the majority of people in America, you do not have a signed will. Just because you do not have a signed will, does not mean you do not have a “will”. In the absence of a …
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 outright distributions to them. However, when you leave …
Per Stirpes or Not Per Stirpes
You have a will or a trust in which you leave your property to your family or other beneficiaries when you are gone. As a backup plan, your will or trust should have contingent beneficiaries named in the instance that …
Wills Guarantee Probate
“Dad’s (or Mom’s) will says I am the sole beneficiary. I took the will to the bank, but the bank refused to give me my money. Why won’t the bank give me my money, when Dad’s (or Mom’s) will says …
Healthcare Issues
In your estate plan, if you are like most people, you want to make sure that you are in control while you are alive and well, that you and your loved ones are provided for when you are alive and …