FINAL INSTRUCTIONS
Recently one of my estate planning colleagues, addressed the importance of "Final Instructions". This type of information is similar to an instruction manual that steps us through arrangements that we should address in advance of the inevitability of our passing. We rarely get an instruction manual at birth, but we surely can leave one before […]
Continue readingThree Classic Estate Planning Blunders
As we push our way through Tax Month, we are reminded of the importance of the basics of estate planning. My estate planning colleague in Hawaii, Scott Makuakane, recently posted the following article to revisit three areas we should avoid in estate planning. His article reflects the practical experience that comes his practicing estate planning […]
Continue readingFinancial Parenting Tips
Every parent is challenged to prepare their children for living meaningful lives and managing their affairs responsibly. Here are a few parental tips to help set the tone for your children and their approach to handling the money you provide. My thanks to my WealthCounsel colleague, Wayne Ball, for turning my attention to these financial […]
Continue readingEstate planning for the rest of us
My WealthCounsel colleague, Suzann Beckett, offers an answer to one of the most often-asked questions I encounter in social gatherings. An acquaintance asked me about estate planning, not long ago. They weren’t asking for professional advice, they were literally asking if I could explain what estate planning is, and how it might affect them. It’s […]
Continue readingCompensating Caregivers
One in Seven Americans are Caregivers There are some serious issues looming on the horizon for baby boomers. Almost one in seven Americans looks after a disabled person age 50 or older. Many compensated and many not compensated, but it is a rapidly growing number (the number has jumped 28% since 2004). It’s an emerging […]
Continue readingFiling for Bankruptcy: What Can You Protect?
With 1.6 million Americans expected to file for Bankruptcy this year, we know that at least these 1.6 million and very likely many more researching the bankruptcy option have been asking the same basic questions. “What can I protect?” “What will be left?” A recent article in the Wall Street Journal Digital Network addressed these […]
Continue reading“My Mother took care of me, so I’m going to take care of her.”
I’m often asked the question, “What are the options for a baby boomer with aging parents?” I was pleased to see this posting by my fellow Wealth Counsel member Suzann Beckett practicing in West Hartford, CT . She offers one answer for the many baby boomers facing aging parents wishing to remain in their homes […]
Continue readingThe Tax “Deal” – the Forecast is Dark Clouds on the Horizon
My fellow member of WealthCounsel, Richard Wohltman of Alexandria, VA, posted this relevant commentary on the Tax “Deal” currently being ushered through Congress. There has been a lot of talk this month about the "deal" to extend the Bush tax cuts. That "deal" also includes a substantial increase in the amount that can pass to […]
Continue readingThe Federal Estate Tax Lapsed for 2010
The federal estate tax lapsed for 2010, and barring no action by Congress it was scheduled to return on Jan. 1 with an exemption of $1 million per person and a maximum rate of 55 percent. I have good news to share with you. The long wait for action to address the unknown status of […]
Continue readingNEWS FLASH: Yankees Beat the Miami Dolphins!
Yes I know, that’s impossible. But the heirs of George Steinbrenner, who died recently at the age of 80, certainly came out ahead of the heirs of Joe Robbie, the former owner of the Miami Dolphins who died in 1990. Steinbrenner’s timing couldn’t have been better. His heirs will inherit the team without having to […]
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