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Cincinnati Estate Planning Attorney
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By 2050 it is expected that there will be 13.8 million Alzheimer's patients in the U.S. Families need to be prepared, since increasingly it is families taking care of the patients at home, not medical facilities. It has long been expected that, as Americans continue to live longer, the number... Continue reading
Posted yesterday at Cincinnati, Ohio Estate Planning
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When the Baby Boomers start passing away in greater numbers, the single greatest transfer of wealth in world history will occur, but the benefit might not all go to their heirs. Generally speaking, throughout their lives, the Baby Boomer generation has amassed more wealth than any previous generation. Since they... Continue reading
Posted 2 days ago at Cincinnati, Ohio Estate Planning
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A new study suggests that an important factor in whether people reach retirement age with adequate resources, is how much wealth they receive from their older family members. Some people, whether in Cincinnati or elsewhere, are able to retire comfortably while others are not. The difference between the two groups... Continue reading
Posted 3 days ago at Cincinnati, Ohio Estate Planning
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Whenever relevant tax laws change, it is important to update your will to reflect those changes, instead of relying on a court to make the changes for you. Wills are not necessarily set in stone after someone passes away. Under some circumstances, probate courts are able to change a deceased... Continue reading
Posted 4 days ago at Cincinnati, Ohio Estate Planning
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A New York judge who was recently found dead, made a large estate planning mistake following her divorce. Fortunately, her family appears to have worked everything out amicably. Judge Sheila Abdus-Salaam was the first African-American woman appointed to New York's highest court. She recently became a national figure not for... Continue reading
Posted Jun 15, 2017 at Cincinnati, Ohio Estate Planning
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A couple of new movies about Michael Jackson's life are scheduled to be released soon. They might not contain any of his music. Michael Jackson was known for several things during his life. He was known for his unique style, dancing and his often bizarre personal life. For people who... Continue reading
Posted Jun 14, 2017 at Cincinnati, Ohio Estate Planning
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The former chairman of Fox News was facing sexual harassment lawsuits. Now, that he has passed away, his estate inherits them. It has not been the best year for Fox News. A series of allegations of sexual harassment have been made against some of the biggest names at the cable... Continue reading
Posted Jun 13, 2017 at Cincinnati, Ohio Estate Planning
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Wealthy people should talk to their children about their wealth and what inheritances the children will receive. That conversation should happen when the children are ready to hear it. Parents who plan on leaving large inheritances for their children are in a bind. If they do not talk to their... Continue reading
Posted Jun 12, 2017 at Cincinnati, Ohio Estate Planning
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At the moment, it is difficult to know exactly what is going on in Washington D.C. and what might come from Republicans' tax reform plans. That makes flexibility in estate planning more important than ever. It is not completely unfair to say that the political system in the U.S. is... Continue reading
Posted Jun 8, 2017 at Cincinnati, Ohio Estate Planning
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New inexpensive genetic testing has the potential to ruin the business model of long-term care insurers. Long-term care insurance works in a similar manner to other forms of insurance. Policy issuers are banking on the fact that not everyone who pays premiums will be as expensive to care for as... Continue reading
Posted Jun 7, 2017 at Cincinnati, Ohio Estate Planning
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An Italian doctor who plans to perform the first human head transplant, claims that within the next few years he will be able to transplant a frozen brain into another body and wake it up. Many people all over the world have put their hopes for eternal life on cryogenics.... Continue reading
Posted Jun 6, 2017 at Cincinnati, Ohio Estate Planning
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The divorce rate for people over 50 years old is higher than it used to be. The reasons might not be what you think they are. Studies have shown that for the youngest demographics, the divorce rate in the U.S. has declined from what it was a couple of decades... Continue reading
Posted Jun 5, 2017 at Cincinnati, Ohio Estate Planning
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A recent trend is wealthy people spending vast sums to fund research into cures for diseases that family members suffer or died from. That can be great, but it can also create problems. Getting funding to research and possibly cure rare diseases has never been the easiest thing for scientists... Continue reading
Posted Jun 1, 2017 at Cincinnati, Ohio Estate Planning
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A person who has spent a lifetime building a collection of anything and is working on an estate plan, often wants that collection to remain in the family. That can be difficult, if your children are not interested in the collection. It is not exactly a secret that children often... Continue reading
Posted May 31, 2017 at Cincinnati, Ohio Estate Planning
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If you are planning on getting remarried and have children from previous relationships, it is important for you to think about how to preserve an inheritance for your children. Although state laws have some variations, a general rule is that if you pass away without a will, then your closest... Continue reading
Posted May 30, 2017 at Cincinnati, Ohio Estate Planning
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One of the worst nightmares for wealthy people is to lose all of their assets to creditors. They have some options to protect against that possibility. One potential creditor that wealthy people do not often think about is their spouse. In a divorce, a spouse can quickly turn from a... Continue reading
Posted May 25, 2017 at Cincinnati, Ohio Estate Planning
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The battle over the estate of former NFL player Aaron Hernandez was expected to go on for a long time, but it turns out there is not much for anyone to fight over. When Aaron Hernandez committed suicide that was the end of the criminal cases filed against him. However,... Continue reading
Posted May 24, 2017 at Cincinnati, Ohio Estate Planning
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America's entitlement programs that were designed to alleviate elderly poverty, are beginning to benefit the wealthy more than the poor. That creates a challenge for lawmakers who need to change the programs to keep them solvent. Social Security and Medicare have been extraordinarily successful in achieving their primary purpose of... Continue reading
Posted May 23, 2017 at Cincinnati, Ohio Estate Planning
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With Congress expected to take up major tax reform soon, there has been a lot of talk about what will happen to the estate tax. Little focus has been given to the gift tax, but it also is important. The gift tax is often thought of as a check on... Continue reading
Posted May 18, 2017 at Cincinnati, Ohio Estate Planning
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Every state in America has its own estate laws. That means that your state of residence when you pass away, can make a big difference to your estate. When it comes to estate planning for wealthy people in the U.S., considerable attention is given to the federal estate tax. So... Continue reading
Posted May 17, 2017 at Cincinnati, Ohio Estate Planning
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The apparent suicide of former NFL player Aaron Hernandez put an end to his legal battles, but complicated the battles for his estate and the families of his victims. The former New England Patriot Aaron Hernandez was convicted of murdering three people and was in jail pending an appeal, when... Continue reading
Posted May 15, 2017 at Cincinnati, Ohio Estate Planning
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These are times of great economic disparity. While some people blame the wealthy and consider them greedy, many wealthy people are, in fact, looking for ways to stop accumulating things and to help others. The reality of life in the U.S. and the world at large is that a great... Continue reading
Posted May 12, 2017 at Cincinnati, Ohio Estate Planning
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Michael Jackson's estate is usually seen as a case-study of everything that can possibly go wrong when a family starts fighting over an estate. It can now also be seen as evidence that sometimes wounds created when families fight over estates can be mended. No recent celebrity estate has been... Continue reading
Posted May 11, 2017 at Cincinnati, Ohio Estate Planning
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Our elder care institutions, laws and practices are designed with an assumption that a certain societal structure exists. Elder care must change to deal with new realities. From the time of America's founding, most American families were structurally the same. A man and woman would get married and have kids.... Continue reading
Posted May 10, 2017 at Cincinnati, Ohio Estate Planning
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As the overall population in the U.S. continues to get older, more people are becoming victims of elder financial abuse. The federal government and many state governments are trying to stop it. The epidemic of financial abuse against older people has gone mostly unnoticed by policymakers for a long time.... Continue reading
Posted May 9, 2017 at Cincinnati, Ohio Estate Planning