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Frank R. Campbell
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Becoming a widow or widower means many changes for the surviving spouse, and that includes financial changes. Planning ahead for changes in income and taxes can lighten the impact. The phrase “death and taxes” is commonly heard, but not often applied to what happens with the loss of a spouse.... Continue reading
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With few exceptions, most of us are living digital lives. That includes basics like sharing family news on social media and storing photos in the cloud, as well as financial information. Your digital life needs to be part of your estate plan, now more than ever before. Your executor and... Continue reading
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For extremely wealthy families, managing and preserving great fortunes rely upon Family Trust Companies or FTCs. Nevada has grown its popularity as a base for these companies through legislation. Nevada is more than just a state to gamble with money. It’s also one of a few states that passed legislation... Continue reading
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A battle between Audrey Hepburn’s son and the charity bearing her name has resulted in the iconic Hepburn’s will being made public. The details: a King’s ransom of jewelry by legendary designers. Last fall, a lawsuit was brought against the Audrey Hepburn Children's Fund by the star’s son, Sean Hepburn... Continue reading
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With too many families left in the dark during investigations of abuse complaints, one State Senator is trying to shed light on a disturbing issue. Proposed legislation and investigations of a state agency charged with protecting residents at Minnesota health care facilities, have been spurred by instances where family members... Continue reading
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Following his divorce, John Marriott III says he was forced out of the family hotel business and then cut off from the $3 billion family trust. The Marriott’s are Mormons and divorce is not an option for them. Going against his father’s wishes, John Marriott III divorced his wife Angela... Continue reading
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Teenage idol David Cassidy’s Partridge Family television family was not the same as his real-world family. His will directed that everything was to be given to his son, and nothing was to be given to his daughter. Long before he died, David Cassidy decided to cut his actress daughter Katie... Continue reading
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Early retirement is what so many folks hope for, but as many as 23% of Americans are preparing themselves to work past their 70th birthday, as reported in a 2016 Willis Towers Watson survey. Once people get to their mid-fifties, the idea of retirement transforms from “someday” to the near... Continue reading
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Twenty years ago, this would be a science fiction fantasy. Today, it’s real: a company that was to provide a hologram of the late musician is trying to prevent another hologram company from launching a tour. According to Roy Orbison's sons, the first company who offered to create a hologram... Continue reading
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Everyone should have an estate plan to protect the people they love and ensure that their possessions and assets accumulated over the course of a lifetime make their way to the people or charities of their choice. Wealthy families face certain challenges when it comes to planning to pass on... Continue reading
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The new Department of Labor rule was to require that financial advisors act as fiduciaries on behalf of their investment clients; i.e., to put their clients best interest before their own profits. With the deadline for compliance now moved to July 1, 2019, the rule that was created to curb... Continue reading
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Understanding how Medicaid rules work, will help families planning the next step of care. For families of seniors who need but cannot afford long-term care, the idea of losing the family home is upsetting. To make the best possible decision, you need to understand the rules and how they apply... Continue reading
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The unlimited power given to court-appointed conservators and guardians to take over a senior’s finances, with no checks and balances in place, has led to many charges of abuse and horror stories. Guardianship reform is taking place in many states. In New Mexico, a six month discussion over reform asks:... Continue reading
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The biggest concern for most people is that they will lose ownership of their home in order to qualify for assistance from Medicaid. Buying long term care insurance as early as possible is critical, but if you missed that opportunity, you’ll want to know what your options are, including Medicaid... Continue reading
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Creating a retirement plan requires more than figuring out your cost of living and how much income you’ll need. Neglecting the cost of taxes and health care can completely undo your planning. What if you want to create a long-lasting legacy? These three big factors are often overlooked by many... Continue reading
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Seniors who are counting on Medicare to cover healthcare costs in retirement, are in for an unpleasant surprise that will likely take a huge bite out of their retirement savings. Even seniors who buy optional Medicare supplementary plans, face healthcare costs that can easily decimate their retirement savings, according to... Continue reading
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The cost of long-term care insurance may not be cheap, but the cost of long-term care is extremely expensive, and is only moving higher. Long-term care insurance is costly, but health care costs for seniors who need long-term care could easily undo decades of retirement planning. Here’s what you need... Continue reading
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With the number of late in life marriages among older Americans on the rise, it is best to address financial, legal and blended family issues before walking down the aisle. We Americans like to be married. So much so that, according to the U.S. Census Bureau, about a third of... Continue reading
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Parking a “granny pod” in the backyard may be the best way to have aging parents near, but not under, your own roof. Finding suitable and affordable housing for aging parents is a real challenge for many families. A senior lifestyle community may be too expensive, but living on their... Continue reading
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For those who joined the military in recent years, a big decision is looming for their future. They have to make a choice next year between staying in the old retirement system or opting for the new one. Figuring out whether or not to stay with the current military retirement... Continue reading
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Since so few Americans actually pay the federal estate tax, that’s not enough of a reason to put off doing or updating your estate plan. It is better to get it done by year’s end and then adjust it, if necessary. Some parts of the tax code may change, if... Continue reading
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The new law requires the DOJ to take action to investigate and prosecute crimes against the elderly. The Department of Justice (DOJ) has a new set of requirements as a result of the Elder Abuse Prevention and Prosecution Act becoming law, which should lead to a more active role in... Continue reading
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A combination of theft, forgery and other crimes, not to mention IRS fines, taxes and the cost of settling civil suits, and you can shrink a multi-million estate very quickly. John Sullivan’s estate may have started out at $8 million, but in just two and a half years, it had... Continue reading
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Enjoying the warmth of southern climates during the winter and escaping the heat in the summer is the ideal retirement lifestyle for many. However, for estate planning purposes, you’ll need to pick one as your residence. If you live in more than one state, an experienced estate planning attorney can... Continue reading
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Estate planning performs important functions while you are alive and after you have passed. However, you have some important decisions to make before a plan can be completed. Your will is just one document in a series that make up a complete estate plan. Other documents allow you to convey... Continue reading