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Michael E. Lehr
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You must sign up for Medicare Part B no later than eight months after retirement, or the penalties could be serious. These are the details that really matter when it comes to retirement and Medicare. If you signed up for Medicare Part A on your 65th birthday but were still... Continue reading
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The executor was alleged to have treated the estate like a “personal slush fund,” but that lawsuit has been settled through mediation and the terms were confidential. A long-time friend of the famed Texas plaintiff’s attorney John M. O’Quinn has filed a petition to resign as executor of O’Quinn’s estate.... Continue reading
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If you plan on leaving the family home to your heirs when you die, be aware of the tax liabilities that are associated with inheriting a house. This is the type of estate planning decision that requires a closer look with an estate planning attorney to evaluate the pros and... Continue reading
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Deciding when to start taking Social Security payments has to be considered in the total picture of retirement planning. The challenge of retirement planning is that once a big decision is made, you don’t have three or four decades to fix any mistakes. The same holds true for deciding when... Continue reading
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People travel by party bus so they can enjoy their evening safely without having to drive. However, in this case the party bus was not enough to protect this group of passengers from an alleged drunk driver. Eight passengers in a party bus have filed a lawsuit against the estate... Continue reading
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If someone has designated you as their agent with a Power of Attorney, it’s important to understand what this legal document does and does not empower you to do. A Power of Attorney (POA) gives you the legal right to manage a person’s financial affairs while they are alive, according... Continue reading
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Herb Kent’s daughter Robbin and grandchild were completely left out of his will, which she says was the result of improper influence by his girlfriend. This won’t be an easy will to contest. Legendary Chicago radio personality Herb Kent’s daughter used to go with him to public events and is... Continue reading
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With a record-breaking price of $110.5 million, the auction of a painting by Jean-Michel Basquiat will create an equally enormous tax bill. Talk about a successful investment: Lise Wilks’ parents spent $19,000 on a Jean-Michel Basquiat painting thirty years ago. The painting, sold at auction at Sotheby’s in New York,... Continue reading
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A ruling from the IRS, Revenue Ruling 2017-34, will make it easier for an executor who failed to make a “portability election” to take advantage of a DSUE—deceased spousal unused exclusion amount. Don’t wait too long to take advantage of a new ruling that, says Forbes in “IRS Offers Estate... Continue reading
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Some parts of estate planning are complex. That is why you want an estate planning attorney with knowledge of tax law and finances. Other areas are simpler, but harder. How many times have you heard about people who were all set with their estate plan, except they never signed their... Continue reading
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Remember that the named beneficiaries of accounts supersede any instructions in your will, so be careful about selecting the right beneficiaries for accounts and keeping the names up to date. You may have thought having your will done, means your estate plan is complete. However, there’s more to it. Different... Continue reading
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The tasks of an administrator must be done with an eye to following the intent of the will and the law. The surviving spouse of an Oklahoman decedent asked the estate to file a federal estate tax return for the estate and elect portability of the Deceased Spousal Unused Exclusion... Continue reading
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Blending a family is not an easy task, but doing so successfully can create a new and strong family unit. Among the challenges are how to blend finances. Blended families are no longer limited to television sitcoms. The Pew Research Center reports that 41% of all Americans have at least... Continue reading
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Unintended consequences can occur when dividing up real property, which is often harder to distribute than investment accounts or savings accounts. Planning for real property division must take into account the different circumstances of your heirs. You may have envisioned a time in the future, when your children and grandchildren... Continue reading
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In the best of all possible worlds, your retirement finances include a nest egg that generates a steady flow of income while your principal assets continue to grow. There are six key investment points that, if you can meet them, will make retirement finances work in your favor, according to... Continue reading
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Saving on income taxes and keeping your income below certain taxable levels, are just two of the benefits of making a tax-free transfer from your IRA to a non-profit organization. But mind the details; you likely need an estate planning attorney’s guidance. Once you hit the mark at 70 ½,... Continue reading
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There’s no need to wait until you retire to be more proactive about managing your retirement accounts. In fact, there are a few steps you can take, including using an “in-service rollover” while you are still working. The days when Americans worked for a single company for a lifetime and... Continue reading
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By traveling to Eastern Europe and obtaining documents thought to be long-gone, a genealogist has built a profitable business finding lost heirs. However, a court appointed lawyer reviewing his documents on one case says they are likely forgeries. Vadim Tevelev may be a hero to those who retain his services... Continue reading
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Estate planning is something that young families need to do just as much as their parents or grandparents. Estate planning is about far more than asset distribution. Did you know that estate planning includes naming guardians for minor children in the event that both of their parents die before the... Continue reading
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A lawsuit filed against Christie’s auction house by the estate of Elizabeth Taylor, is the latest in a long battle centering on a famed diamond with a legend that may or may not be true. Given to the movie star Elizabeth Taylor by her husband Richard Burton on the occasion... Continue reading
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An estate plan does a lot more than distribute your assets among family members and organizations that share your values. It also protects you and your loved ones. That’s why everyone needs an estate plan, especially if you have minor children. It’s amazing that some people still think they don’t... Continue reading
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At last, a happy ending for the estate of the late Veronica Shoemaker, a community activist who made service the heart of her life and business. With the conclusion of the estate battle, Mattie Young, the daughter of the late Veronica Shoemaker, will now be able to keep her mother’s... Continue reading
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Britney Spears five dogs enjoy the same quality of life as she does, but without a pet trust, if anything happened to her, their lavish lifestyle would be at risk. Pet trusts are no longer the exclusive province of the rich and famous, but a recent article in Trust Advisor... Continue reading
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Before you tell HR what your final day of work will be, there are more than a few details that you need to cover to prepare for taxes, make the most of any potential benefits and start retirement on the right foot. If there’s a retirement season, it’s spring or... Continue reading
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Who would have ever thought that a huge exhibit of Elvis’ clothing and personal effects wouldn’t draw record-breaking crowds in Vegas? Instead, it was a colossal flop. An ambitious exhibit that featured Elvis’s stage outfits, jewelry, personal letters and other items at the Westgate Las Vegas Resort and Casino is... Continue reading