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Stephen K Lehnardt
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By: Stephen K Lehnardt When a beloved family member passes without a will or estate plan, heirs are left with a mystery that requires creative thinking to solve. If a loved one passes away with no will or estate plan it's not unusual for assets to go undiscovered: grandma may... Continue reading
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By: Stephen K Lehnardt The dramatic increase in the number of adults with developmental disabilities, coupled with their increasing life spans, presents planning challenges for parents. Special needs families are accustomed to things being more complicated, and retirement planning is no exception. Parents must plan for their own retirement as... Continue reading
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By: Stephen K Lehnardt The same level of advance planning needed for a new baby or for a child going to college is necessary for retirement and estate planning. Decisions about housing, income, health care and your heirs' lives after you pass away are not always easily made. These decisions... Continue reading
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By: Stephen K Lehnardt Families with an Alzheimer's patient must address the issue of financial planning as well as care and treatment. Once a diagnosis has been made, a number of financial tools should be considered. Any family faced with helping a loved one with Alzheimer's disease faces a number... Continue reading
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By: Stephen K Lehnardt A legislative change made the use of trusts less necessary for most Americans, but there are still many situations where this planning tool is the best option. When the American Taxpayer Relief Act of 2012 (“ATRA”) became law, the $5 million exemption and rules on “portability”... Continue reading
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By: Stephen K Lehnardt Estate battles among high profile celebrities are all over the news, but can a regular person contest a will if they feel that they were unjustly treated? You may have seen the movie where kids are cut out of a will. If this happens to you... Continue reading
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By: Stephen K Lehnardt In our first part, we identified conflict, interest, and uncertainty as three misconceptions that prevent business owners from planning to protect a business legacy. Here are the last three obstacles identified in the Yakima Herald’s article "Passing the baton: 6 challenges for family business succession,": Income.... Continue reading
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By: Stephen K Lehnardt Whether on the evening news or a serial drama, we love to watch the inner workings of family businesses—in large part because of the drama and the high likelihood of failure. The narrative of family dynasties is intriguing. According to the Yakima Herald in "Passing the... Continue reading
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By: Stephen K. Lehnardt We'd all rather plan a vacation than confront our own mortality. But planning for retirement, estate planning and vacation planning are all necessary to realize your goals. If you recall the parable of the grasshopper and the ants, the grasshopper did not plan or prepare for... Continue reading
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By: Stephen K. Lehnardt If you want your donation to send a CEO and his family on a luxurious vacation, that's great. But if you want every penny used to find a cure for cancer, it is best to do some research before writing that check. Most people are generous... Continue reading
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By:Stephen K Lehnardt Long gone are the days of defined pensions—when employers took care of all retirement income. On the flip side, we are living longer and need greater financial resources to pay for our needs and wants. If X equals a longer lifetime and Y equals smaller retirement funds,... Continue reading
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By: Stephen K Lehnardt We hear about celebrities who turn their nose to estate planning, but do we ever hear about those who have done their estate planning? Privacy and a faster resolution to settling estates are just two good reasons to create an estate plan. You don't have to... Continue reading
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By: Stephen Lehnardt People think Medicaid solves all the financial problems of expensive long-term medical care later in life. It’s not that simple and what you don’t know will hurt financially. Proper planning can result in a more satisfactory result for you and your family. “I wish I would have... Continue reading
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By: Stephen K Lehnardt People think Medicaid solves all the financial problems of expensive long-term medical care later in life. It’s not that simple and what you don’t know will hurt financially “I wish I would have come to you sooner” is a regular lament heard in our office by... Continue reading
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By: Stephen K. Lehnardt Planning to leave an inheritance for your children requires a careful examination of all your assets. If you feel that your assets will not cover your wishes, insurance can be part of your plan. Most couples use term insurance to help protect their loved ones financially... Continue reading
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By: Stephen K Lehnardt "Giving with warm hands" applies to charitable donations as well gifts made during your lifetime. With a charitable trust, you get to give with warm hands and get a nice tax deduction. Does your will include donations to non-profit organizations who you feel are worthy of... Continue reading
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By: Stephen K. Lehnardt Millennials have different perspectives than their parents about love, money and family. These differences can make planning for inheritance a minefield. Have Boomers taught their children well? Probably, but according to a recent survey, while nearly 75% of baby boomers see a gift of money as... Continue reading
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By: Stephen K Lehnardt Not having a will is like handing the keys to your new car to a stranger. You might hope to get it back later, but you just don’t know. Despite all the media buzz about famous people who don’t have wills, many regular Americans don’t have... Continue reading
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By: Stephen K Lehnardt The value of image and other intangibles usually overshadows any other valuation issues with celebrity estates. The pending valuation battles of Prince’s fortune will not be easy or without significant legal action. Another heir is making a claim to the majority of Prince’s estate—Uncle Sam. Before... Continue reading
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By: Stephen K. Lehnardt It is not easy to be a member of a military family. Military families face many challenges that civilians do not, and—all too often—military families do not receive critical support in two areas that make a difference in their financial and personal lives. It is especially... Continue reading
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By: Stephen K. Lehnardt Financial and legal planning for a special needs child is challenging. To protect child and family, advance planning with experienced professionals is necessary. When your family includes a special needs child, it can be difficult to plan ahead,-- from providing care, education and life experiences to... Continue reading
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Don't wait until it's too late to discuss money, death and personal values with your heirs. If your family can't manage the discussions, then you'll at least have time to try another approach. Continue reading
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Fraud cases involving elderly clients are on the rise, with nearly half of the CPA financial planners who participated in the survey, around 47%, saying they have seen an increase in financial fraud in the last five years. Continue reading
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There seem to be a never-ending list of things experts say Baby Boomers need to think about—investing for retirement; health care and long-term care; medicare and medicaid; insurance; inflation; estate and tax planning; etc. etc. etc. With all these things to learn about, it is easy to become overwhelmed, confused, or simply miss. Continue reading
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Aristotle is attributed as saying “Good habits formed at youth make all the difference.” Now is the time to adopt and develop the financial habits that will determine your successful retirement, even if you’re still in your 20s. Continue reading