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Idaho Estate Planning
Eagle, Idaho
Recent Activity
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A mother who just turned 75 wants to downsize from her four-bedroom house. Her husband passed away six years ago, and she owns her home outright. At the time of her husband's death the value of the house was estimated at $1.2 million. Right now she has enough income from retirement accounts and investments to live comfortably. She could even buy another smaller property if need be. The executor of her estate is trying to help her decide what to do with the house. She could let another family member live in it who couldn't pay rent but could help with upkeep; she could rent it out for market value; or she could sell. What should she do? Continue reading
Posted 3 days ago at Idaho Estate Planning
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The estate tax is one of the most complex parts of the tax laws, drawing a lot of controversy among Americans. Even as opponents label it an unfair death tax on already-taxed money, proponents believe it's one of the only ways of addressing rising inequality in wealth levels within the nation. Still, with the government collecting almost $12.7 billion from estate tax filings last year, it's worth your while to know enough about how estate tax rules change from year to year that you can avoid or minimize any tax you might owe. With that in mind, The Motley Fool gives us some rules you need to know about the estate tax for 2015. Continue reading
Posted 4 days ago at Idaho Estate Planning
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Adult children who become caregivers often pay a steep price. According to a 2011 MetLife study, women older than 50 who leave the workforce early to fulfill this role forfeit about $324,000 in wages, Social Security payments and retirement benefits. However, with some smart strategies, you can avoid sabotaging your financial future. Continue reading
Posted 5 days ago at Idaho Estate Planning
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Fifty-four percent of Americans planned on making a financial resolution for 2015. According to a new poll by GOBankingRates, as reported in the Las Vegas Review-Journal, saving money, paying down debt and improving spending continue to top the list. Given only 8 percent of people actually achieve their resolutions, it might be time to change things up a bit. Continue reading
Posted 6 days ago at Idaho Estate Planning
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The truth is that anyone can set up a trust. They are not just for the very wealthy. Of course, trusts for the extremely wealthy and trusts for those of more modest means will often look different, but an estate planning attorney can set up a revocable living trust that is appropriate regardless of the size of your estate. Continue reading
Posted Jan 16, 2015 at Idaho Estate Planning
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Parents should do what they want with their money, says Kotzer, but they should also think of the consequences. “Will my children be talking after I die?” Continue reading
Posted Jan 15, 2015 at Idaho Estate Planning
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Good advisors recommend their clients of all ages have powers of attorney (“POAs”) in place. But the biggest and apparently most hotly debated question is whether or not POAs should spring—meaning whether they should be effective immediately upon execution (typically the statutory default) or whether they should become effective only upon a determination that the principal is disabled (that is, spring into effectiveness upon the triggering event of disability). Continue reading
Posted Jan 14, 2015 at Idaho Estate Planning
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Mom and Dad may be entitled to more money or discounts than you think. Experts let us in on a few resources most people overlook. Continue reading
Posted Jan 13, 2015 at Idaho Estate Planning
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It took Jennifer Kaylin 13 months, reams of paperwork and untold hours on hold to get the Title 19 benefits -- Medicaid funds for people with limited resources -- her father needed to receive nursing home care. In the Oprah Magazine article, “Sanity-Saving Secrets For Caring For Your Aging Parents,” she shares her sanity-saving secrets. Continue reading
Posted Jan 12, 2015 at Idaho Estate Planning
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Elders or their families who are assisting them should insist on more careful planning for long term care issues when doing an estate plan. Continue reading
Posted Jan 9, 2015 at Idaho Estate Planning
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From George Orwell, who insisted all his manuscripts be preserved, to Charles Dickens who wanted no memorials put up to his life, history buffs can now explore the wills of some of the most influential figures of the past 150 years at the click of a mouse. The Government today announced it had digitised its archive of 41 million wills registered in England and Wales, dating back to 1858, allowing people to also research their own families. Continue reading
Posted Jan 8, 2015 at Idaho Estate Planning
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The VA pension can significantly improve the quality of life for veterans and their surviving spouses. The pension amount will depend on the medical needs and level of assistance needed, and is based on the Cost of Living Adjustment Index. Continue reading
Posted Jan 7, 2015 at Idaho Estate Planning
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VA estimates handling about 4,501,200 cases in 2013, and of those about 38% or 1,693,200 beneficiaries are age 65 and older. It is important to note that of those 1.7 million beneficiaries 65 and older, only about 28% or 517,900 beneficiaries will be receiving Pension or Death Pension. Continue reading
Posted Jan 6, 2015 at Idaho Estate Planning
Here is a quick review of some key estate planning developments that occurred in 2014. Continue reading
Posted Jan 5, 2015 at Idaho Estate Planning
The year 2014 will be remembered for many things, to include celebrity deaths. The details of another celebrity's estate have recently been revealed. This time it is the estate of late actor Bob Hoskins. Continue reading
Posted Jan 2, 2015 at Idaho Estate Planning
Do you have a revocable living trust? Are you thinking about creating (or updating one) in the New Year? Either way it is important to transfer your assets into that trust, including any real estate that you own. Continue reading
Posted Dec 31, 2014 at Idaho Estate Planning
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No one really wants to do it. I mean, it makes one face the realities of one’s own mortality. For many people writing a will can be a daunting task. Continue reading
Posted Dec 30, 2014 at Idaho Estate Planning
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A fool and his money will go separate ways. So it is with many an inheritance. People often fear that leaving large sums of money to their relatives will result in those relatives blowing the money on things they do not need. Continue reading
Posted Dec 29, 2014 at Idaho Estate Planning
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All those months of checking in over the phone or getting reports from a sibling might have led you to believe that all was well with your elderly loved ones. Now, when you actually see them face to face, all is not well on the home front. Continue reading
Posted Dec 26, 2014 at Idaho Estate Planning
Much of what passes for estate planning today is little more than word processing. Someone asks a few questions and then fits you into their pre-defined box. This isn’t planning – This is simply document preparation. Don’t settle for word processing in place of quality planning! Continue reading
Posted Dec 24, 2014 at Idaho Estate Planning
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Search for the late actor and comedian Robin Williams on Facebook and you'll quickly come to an invitation to "connect" to him. That could be difficult, to say the least. The much-beloved Academy Award winner departed this earthly realm four months ago. His page is now set up to receive tributes from his considerable fan base. Could someone do the same for you if you suddenly died? Apparently not. Read on ... Continue reading
Posted Dec 23, 2014 at Idaho Estate Planning
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When Apple and Facebook made news recently for paying the expenses of their female employees to freeze their eggs, chances are you didn’t think it would have any effect on your estate plan. But if you have a daughter or a granddaughter, you may be mistaken. Continue reading
Posted Dec 22, 2014 at Idaho Estate Planning
No one — not Florida investigators, court officials, the Wisconsin Department of Corrections or the FBI — ever notified the surviving relatives of Cydzik's victim in the Brookfield fatal robbery. Only this year — by chance and Facebook postings — did they finally discover whatever became of Cydzik. Now, they're looking for some belated closure in a Florida court. Continue reading
Posted Dec 19, 2014 at Idaho Estate Planning
People often fight over trusts for a wide variety of reasons. One of the most frequent conflicts over trusts occurs when the trustee and the beneficiaries do not see eye to eye. Continue reading
Posted Dec 18, 2014 at Idaho Estate Planning