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Frank R. Campbell
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Florida residents enjoy the protection of homestead exemptions used by some full-time residents as part of asset protection strategies. These exemptions are also used to protect wealth from legal obligations According to an article in Wealth Advisor, “The Juice Is Loose, Did O.J.'s Kids Hide Millions From Murder Families? O.J.... Continue reading
Ads promoting the use of living trusts seem to be everywhere. They promise to help seniors avoid probate. Trusts are an excellent estate planning tool, but they are not “one size fits all” solutions. Avoiding probate, or at least minimizing assets that need to pass through probate is a part... Continue reading
Cosigning a loan, especially one for a home mortgage, can be a risky business for both parties. It’s like any other business deal with a relative: there are financial and emotional risks to be considered. Here’s an example of two well-meaning family members: an individual who is in good shape... Continue reading
If you are someone who always likes to be a little different, then your next call should be to an estate planning attorney to have a will created. This would set you apart from most Americans today! Being a non-conformist may not be the first reason to have a will.... Continue reading
Family business owners opposed to the Estate Tax Valuation rules originally presented by the Obama administration, may fare better this time around. In an interim report, the U.S. Treasury has found the Estate Tax Valuation rules fall into the category of a tax regulatory burden that could be due for... Continue reading
Taxes are often overlooked when considering retirement income and budgeting. Just as you need a tax strategy in place when you are accumulating savings, you also need a tax strategy for retirement. There’s a serious flaw in many retirement plans, as reported in to Kiplinger’s article, “Keep More of Your... Continue reading
Law Commission recommends changes to requirements for creating a will. The Law Commission, which is the United Kingdom's official government legal advisors, are now suggesting changes to the traditional procedures for creating a will, according to The Telegraph in "Could a text become your will? The plans to revolutionise 'outdated'... Continue reading
If you have a pension from the federal government, here’s another item to add to your check list when considering taxes and retirement. Taxes are a big consideration when it comes to deciding where to live during retirement, and according to a recent report from Kiplinger, “States That Tax Your... Continue reading
Most think of long-term care as taking place in nursing homes. However, in actuality, most long term care takes place at home. Changes in the insurance industry might lead to cost-effective ways to address this expense. If you ask the average senior about long-term care (LTC), they are just as... Continue reading
Hoffman’s estate is expected to be settled soon, and while avoiding taxes may not have been his first priority, he did make a plan that put his family first, while protecting a professional legacy. Large estates take time to settle, as all of the property needs to be distributed and... Continue reading
Living trusts can achieve different goals, depending upon how they are drafted. Knowing the fundamentals will help you decide how to go forward. It’s important to know that not all living trusts are the same. However, common reasons for using a living trust are for privacy and avoiding probate. Placing... Continue reading
Tanya Callau says that she never challenged the trust and never planned to challenge a prenup. This makes Thicke’s son’s request for court intervention completely unnecessary. In court papers filed in early July, Alan Thicke’s widow has filed a motion to dismiss a petition brought by Thicke’s son to have... Continue reading
Higher fees are coming to high earners, when income thresholds for the highest surcharge tiers drop even further next year. If you were hit with premium surcharges for Medicare Part B and Part D already, these costs will increase again in 2018, according to a recent article in Kiplinger, “Medicare... Continue reading
Most life insurance companies are quite efficient. However, you will need the right documents. One of the basic tasks that follow the loss of a spouse or family member is figuring out what life insurance policies were in place and contacting the insurance company or companies to find out how... Continue reading
Unless you really want to give your ex the proceeds of your life insurance or 401(k), it is best to take the time to do this one task. If you haven’t looked at the paperwork for your life insurance policies, bank accounts, retirement accounts, investment accounts and any other asset... Continue reading
Some of the terms used for charitable giving can be a little daunting. They sound more like complicated financial transactions and less like making a generous donation for a meaningful cause. But it’s really pretty simple. There are many different ways to make a donation to charities in your estate... Continue reading
When it rejected a woman’s claim for alimony and child support to be taken out of a self-settled spendthrift trust established by her husband, Nevada’s Supreme Court made it clear: the state has the most protective trust laws in the county. On May 25th, the Nevada Supreme Court rejected Lynita... Continue reading
Don’t be surprised if DC decides to find some much-needed revenue from retirement contribution deductions. It could change how Americans save for retirement. A large part of the tax reform debate now underway, concerns overhauling the corporate tax code. However, attention is also turning to American’s retirement savings. That could... Continue reading
Prior to July 1, if someone in a West Virginia nursing home or a family member wished to file a lawsuit charging the facility with abuse, they had two years to do so. That’s no longer the case. A new law now in effect in West Virginia, not only limits... Continue reading
This is a real “win-win” situation. It is a way to make a gift to a charity that creates a long-lasting legacy, while creating a steady stream of income and tax benefits at the same time. Creating a legacy takes many forms. For some people, a legacy grows from years... Continue reading
While the process starts early, with saving and building wealth, the long game requires protecting that wealth during retirement, which could be many decades long. It’s hard to imagine during your 30s or 40s that retirement will actually arrive. Life is busy, with careers, raising families and saving for retirement,... Continue reading
Both parties in the lawsuit are hoping to resolve the matter without having to go to trial, which would likely attract a fresh wave of news coverage to a highly controversial case. The National Collegiate Athletic Association, along with its president Mark Emmert and former executive committee chair Ed Ray... Continue reading
It is hard to believe that as many as nine states have eliminated or lowered estate taxes in the past three years. More states are joining the estate tax revolution. Minnesota and Maryland are increasing their estate tax exemption, trying to make their states more attractive to wealthy residents. Maryland... Continue reading
Your first instinct as a parent may be to divide assets equally among children in your will. However, if your family includes a special needs child, that decision could have a negative impact on your child’s future. Parents do their best to let their offspring know that they are loved,... Continue reading
For everyone who has considered whether or not their last will and testament can withstand a legal challenge, this case shows that it’s not easy, once the will has been admitted to probate. In the matter of Young v. Bellamy, the Supreme Court of Ohio made it clear that proving... Continue reading