Estate Planning

What Are You Waiting For?
The Blessing of Planning Ahead

September 26, 2014

Most of my clients are healthy when they contact me. Estate planning is something in which they are engaging as a precautionary measure rather than because they expect to die within a short amount of time. But not always. Occasionally, clients contact me after they’ve been diagnosed with a serious illness when emotions are high […]

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Tips for Designating IRA Beneficiaries

September 19, 2014

Wendy S. Goffe wrote a great guest article on Forbes.com last week that offered tips to avoid problems that can result from incomplete or inaccurate IRA beneficiary designations. Below are her recommendations Name a primary beneficiary (or beneficiaries). Name an alternate beneficiary in case the first one dies before you. Don’t name your estate as […]

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What is the Tax Consequence of Selling Property I Inherit or Receive As A Gift?

August 27, 2014

Several weeks ago, I received a phone call from a client whose elderly mother owned several pieces of real estate in an exclusive part of town. She had purchased the property decades ago for very little, but since then, the property had appreciated more than a hundredfold. She asked about the tax consequences of selling this highly […]

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Don’t Keep Your Heirs in the Dark

August 6, 2014

If you or someone you know has been a beneficiary of an estate, you may have been exposed to the frustration and disagreements that can occur when details of an estate plan are kept secret until a parent dies. The frustration may have resulted from an unequal distribution of the estate, or a large asset, […]

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How Can I Protect an Inherited IRA from Creditors?

July 21, 2014

If you’re like most Americans, one of your largest assets is your Individual Retirement Account (“IRA”). Your IRA is considered a “retirement fund” and the money it contains is  protected from creditors who seek to recover debts in bankruptcy. An owner of an IRA can pass it down to a beneficiary when he or she dies […]

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Storing Your Health Care Directives: There’s an App for That!

May 14, 2014

I have written before about the importance of having health care directives. These documents allow you to appoint a trusted family member or friend to make medical decisions for you when you are incapacitated. Having paper copies of these documents works really well if you know you’re going to be hospitalized. You can just take them […]

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