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Michael E. Lehr
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You can update your will twenty times, but if you don’t change the beneficiary designations, the unwanted consequences could be awful for your loved ones. It happens more than you’d think: a husband thinks he has made all the necessary provisions for his second wife. Then he dies, and during... Continue reading
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There are several investments that are not permitted to be held within these types of accounts. For the average investor, one of the appeals of self-directed, traditional and Roth IRAs is that they are not limited to the typical investments offered as part of employee-sponsored retirement plans. In an IRA,... Continue reading
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Most people know that their ability contribute to an HSA becomes limited as they approach 65, but there are some opportunities presented as well. There are some good reasons to squeeze every dollar you can into your HSA, as you approach retirement age. Start with the fact that healthcare costs... Continue reading
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Worrying about Social Security doesn’t help anyone but being aware of the challenges facing the system and preparing for change is always the best course. Not surprisingly, pre-retirement adults age 50-64 are the largest group of American adults worried about the Social Security system: 51% expressed worry to pollsters. It’s... Continue reading
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You wouldn’t fly a plane without a flight plan. The same is true for a financial plan. You need to know where you want to go, and how you are going to get there. A failure to plan is a big reason why many people’s financial goals are missed, year... Continue reading
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Does having to pay an inheritance tax discourage someone who might have built an empire, from doing so? Or does an estate tax make a business owner retire earlier? Forbes recently provided an analysis of a research paper examining the impact of estate, wealth transfer taxes and other inheritance taxes... Continue reading
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If undue influence can be proven, it is established that a will can be set aside. A 2013 probate judgment ordering Frank and Angelina Picciolo to return all funds that Mrs. Picciolo received was appealed. The funds were from an annuity transfer that her husband completed, while acting as attorney-in-fact... Continue reading
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With a growing population of elderly, the lack of regulations and oversight has led to a disastrous situation for adults who lose civil liberties via guardianship proceedings. A review by the Reading Eagle of court documents in three Pennsylvania counties show that when it is necessary for Adult Protective Services... Continue reading
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An administrative law judge said that Blanche Berenzweig should return the $1 million she collected from a deceased client’s estate. The heirs of a reclusive man have objected to the will, claiming that she pressured their uncle. This fall, a trial will be held to determine who LeRoy Ern’s real... Continue reading
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Remember to update your estate plan, especially if your life includes events like new kids, a new marriage or the death of a loved one. If you love your family, you’ll keep them in mind when considering whether to make an appointment to update your estate, as you go through... Continue reading
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Americans continue to be fascinated by the death of Natalie Wood, as her death remains an unsolved mystery. It’s been a long time since actress Natalie Wood drowned and Hollywood buzzed with accusations. Recently, two new survivors have spoken to the news media, and the spotlight is shining, once again,... Continue reading
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Having many wives, or having much younger wives isn’t so unusual for rockers. But completely cutting your children out of your will; that’s just not the French way. Leaving his entire fortune and, if that wasn’t bad enough, all of his artistic rights, to his fourth wife, Laeticia, has led... Continue reading
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You can’t avoid disasters, but you can prepare for them. For retirements, the top two threats are the cost of long-term care and bear markets. Recent headlines have brought a steady stream of calamity, on a major scale: earthquakes, hurricanes, floods, ice storms, mud slides and forest fires. Kiplinger’s recent... Continue reading
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It’s not yet confirmed, but the case of a woman who is claiming that her former boss, a deceased county pathologist, did not pay state income or estate taxes, might be the state’s first unsealed qui tam estate tax case. According to a suit filed in New York, a Westchester... Continue reading
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Blended families may be able to maintain a precarious balance when both parents are living, but often when one—usually the father—passes, the interests of the stepchildren and widow don’t mix. In many different cases—will contests, trust contests, probate objections, deed revocations or joint-tenancy battles—stepmothers and stepchildren are at odds. Long-simmering... Continue reading
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The start of a new year is a great time to set yourself up for success. These tips will help you address insurance costs, taxes, protect yourself from identity theft and boost your retirement savings. Why not spend some time now, while the year is still young, to take steps... Continue reading
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Most people think of IRAs as savings vehicles for retirement. However, they are also a good means of handing assets down to non-spousal beneficiaries, i.e., children and grandchildren. The ability of an inherited IRA to grow on a tax-deferred basis over an extended period of time, was one reason why... Continue reading
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Having long-term care insurance in place can provide peace of mind to seniors who are concerned about what their future may hold. Even the healthiest person, could find themselves needing care. About 70% of people over age 65 will require long-term care services at some point and 40% will require... Continue reading
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Holden & Campbell works closely with the Community Foundation of Anne Arundel County and would like to spread the word about this impactful organization. See below for more information and exciting news. What is the Community Foundation of Anne Arundel County?: The Community Foundation of Anne Arundel County (CFAAC) is... Continue reading
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The attorneys of Holden & Campbell, Frank Campbell, Michael Lehr, Kiernan Waters, and MaKayla Hanington, recently attended The 52nd Annual Heckerling Institute on Estate Planning. As the leading and largest conference for estate planning professionals, the Heckerling Institute on Estate Planning provides unparalleled educational and professional development opportunities. In addition... Continue reading
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Holden & Campbell works closely with the Anne Arundel Medical Center Foundation and will be assisting with their upcoming event, It's Never Too Early, Until it's Too Late, a workshop on planning and paying for serious illness. Please see the invitation below for information regarding the event. We spend time... Continue reading
Retirement is the best time in a person’s life. Finally free from the shackles of a nine-to-five, a person has the time to pursue the awesome things they always wanted to do. Of course, not everyone has a hard plan on what it is exactly they want to do. For... Continue reading
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With legal actions and media attention surrounding resident evictions, skilled nursing facilities (SNF) are learning more about what they can and cannot do. Seniors and families also need this information. It’s hard to imagine an 83 year old being booted out of a nursing facility, but as seen in the... Continue reading
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Many things change when you retire, including tax strategies. Steps that you took when you were working, may now work against you. Knowing what has changed and what you need to do can help avoid unnecessary tax liabilities. Tax planning is different after retirement. You might think that a lower... Continue reading
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First, say thank you. Then, learn more about the rules about paying taxes on a financial gift. Couples whose families are generous enough to give them help towards buying their first home are often concerned with what, if any, tax liability may be created. Do they have to pay taxes... Continue reading