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When Should You Start on Your Estate Plan? How About Right Now? No matter how old (or young!) you are, no matter the size of your estate, or how far away retirement is, you need an estate plan. Life happens, often unexpectedly, and an estate plan protects you and your... Continue reading
Las Vegas Gunman Had No Will and a Sizeable Estate With no children and family members who want to see his assets go to victims, figuring out how to handle the estate of the man who murdered and maimed concert goers will take some time to figure out. Stephen Paddock... Continue reading
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An Unusual Response to a Billion Dollar Award: It’s Too Much! A jury ordered JP Morgan Chase to pay $8 billion to the offspring of an American Airlines executive for mismanaging their inheritance, but the kids think it’s excessive. The bank expects the entire matter to be overturned by the... Continue reading
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Small Hometown is Big Beneficiary of Quiet Community Member The memory of John Criss, who loved his hometown, serves as a shining example of how a legacy is created through a properly executed will and the spirit of philanthropy. John Criss lived with his parents, owned a small business and... Continue reading
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Halloween’s Long Gone—Make Sure You Don’t Have Any Skeletons in Your Financial Closet While the headline is all in fun, hidden “skeletons” in your financial closet could seriously impact your financial well being, including threatening your retirement. No matter what your income level is, anyone can be knocked out of... Continue reading
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Social Security Payments Will Increase in 2018, But So Will Medicare Premiums It’s not great news for retirees who depend upon Social Security, even if it is the biggest increase since 2012. If you want a high-quality lifestyle during retirement, don’t count on Social Security or Medicare. First, the good... Continue reading
Posted Dec 6, 2017 at Oklahoma City Estate & Tax Planning
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Increasing Bitcoin Prices Driving Digital Currency Holders to Estate Planning Traditionally, clients start on their estate plan before the birth of a child or a new marriage. Rising prices in cryptocurrencies, like Bitcoin, are introducing a new generation to estate planning. As even small holdings have grown in value, it... Continue reading
Posted Dec 5, 2017 at Oklahoma City Estate & Tax Planning
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Is an Annuity Right For You? Annuities are a mixed bag. For some, they are a useful tool, but they aren’t for everyone. Be certain that your advisor is making recommendations based on your specific needs, and not a product line. The differences between annuities are very broad, and you’ll... Continue reading
Posted Dec 4, 2017 at Oklahoma City Estate & Tax Planning
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How Millions of Americans Manage to Care for Older Adults and Those with Dementia The number of Americans who provide home care for older adults and adults with Alzheimer’s or other forms of dementia is staggering. According to the Bureau of Labor Statistics, more than 41 million Americans provide care... Continue reading
Posted Dec 1, 2017 at Oklahoma City Estate & Tax Planning
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The Toughest Conversation You’ll Ever Have It’s the topic none of us want to think about, but talking with your children and loved ones about your end-of-life wishes can be one of the more important conversations. In some families, it’s easier to talk about sex than it is to talk... Continue reading
Posted Nov 30, 2017 at Oklahoma City Estate & Tax Planning
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Estate and Gift Tax Limits Increase for 2018, Says the IRS Inflation is the primary reason for increases in the 2018 estate and gift tax exemptions. After months of speculation about whether or not the estate and gift tax exemption would increase, the numbers are now official. The estate and... Continue reading
Posted Nov 29, 2017 at Oklahoma City Estate & Tax Planning
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Medical Tax Deduction on the Chopping Block in GOP Tax Bill The seriously ill, disabled and seniors are all threatened by a proposal that’s part of the tax reform bill that was recently released. The medical tax deduction is under fire, included in the tax reform bill presented by House... Continue reading
Posted Nov 28, 2017 at Oklahoma City Estate & Tax Planning
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Philanthropist and Wife to Amway Co-Founder Dies If the name Helen DeVos sounds is familiar, that may be because the late DeVos was mother-in-law to Betsy DeVos, Secretary of Education. Helen DeVos was a beloved philanthropist who supported many causes, but her first love was her family. Helen DeVos was... Continue reading
Posted Nov 27, 2017 at Oklahoma City Estate & Tax Planning
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Older Parents Face Different Estate and Financial Planning Needs Wealthy celebrities may not have to worry about the financial side of welcoming babies in their senior years, but estate planning and retirement lifestyles for regular people need to be considered. Older parents or couples, where one member is significantly older... Continue reading
Posted Nov 24, 2017 at Oklahoma City Estate & Tax Planning
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Progressive Approach to Elder Abuse Uses App to Help Protect Seniors A new app will allow those who work with the elderly in Erie County, New York to report concerns about abuse and upload documents and photos. Designed for service providers and advocates for seniors, the Legal Risk Detector app... Continue reading
Posted Nov 23, 2017 at Oklahoma City Estate & Tax Planning
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How Making Provisions for End-of-Life Care Helps Loved Ones Most people avoid making decisions about end-of-life care, which can make an emergency situation much tougher for family members, who must make decisions without the benefit of knowing what you would have wanted. It’s unpleasant to think about, but apparently rocker... Continue reading
Posted Nov 22, 2017 at Oklahoma City Estate & Tax Planning
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Overly Generous in 2017? Here’s What You Need to Know About Gift Taxes There are a few basics you’ll want to know about gift taxes, especially if a gift inadvertently exceeded the annual $14,000 limit. What would happen if a gift that started out at a value under the $14,000... Continue reading
Posted Nov 21, 2017 at Oklahoma City Estate & Tax Planning
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Basics About Wills in Kansas A will is the foundation of many estate plans, and offers an opportunity for you to convey your property to family members and friends after you have passed. Every state has its own requirements about wills, legal documents that provide instructions for property distribution after... Continue reading
Posted Nov 20, 2017 at Oklahoma City Estate & Tax Planning
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Generous Ideals from Millennials May Change With Time and Experience For now, a report on affluent millennials reveals them to be extremely idealistic, willing to put their retirement savings on a back burner in order to give their kids every advantage. The affluent millennial may have a different take than... Continue reading
Posted Nov 17, 2017 at Oklahoma City Estate & Tax Planning
Giving the Family Farm to Grandchildren Instead of Children There are often bumps along the way, when it’s time to plan for the future of a family farm. Farms are usually passed along to the next generation, but there are instances when parents want to give the farm to grandchildren.... Continue reading
Posted Nov 16, 2017 at Oklahoma City Estate & Tax Planning
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Pushing Back Your Retirement Date Can Reap Big Rewards Continuing to work a few more years past 62, can have a big impact on your retirement finances. This is especially true for federal employees, who can gain as much as $10,000 per year by working to age 66. Because it’s... Continue reading
Posted Nov 15, 2017 at Oklahoma City Estate & Tax Planning
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Small Sentimental Items Often at the Heart of Estate Battles Take a walk around your home with your kids, and talk about the possessions that hold meaning to them. Planning ahead for how their favorite items are distributed may prevent family squabbles during a difficult time, when emotions run high.... Continue reading
Posted Nov 14, 2017 at Oklahoma City Estate & Tax Planning
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Can You Keep a Family Together after You’re Gone? Rocker Bennington’s will includes his wish that his children maintain a sense of family, but bickering between mothers has undermined even the best of intentions. With six children from three different relationships, Linkin Park’s frontman Chester Benning wanted his kids to... Continue reading
Posted Nov 13, 2017 at Oklahoma City Estate & Tax Planning
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Not Sure How to Handle a Large Inheritance? The responsibility of a large inheritance is one that many people take very seriously. Sometimes, this can be a stressful situation, even though that sounds unlikely. Maybe you buy the occasional lottery ticket or hope for a windfall from a distant relative.... Continue reading
Posted Nov 10, 2017 at Oklahoma City Estate & Tax Planning
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Will You Live Forever? It’s A Common Estate Planning Mistake We’re all mortal, but it’s a hard concept for many to imagine. That’s why many people put off estate planning. Do you really want to put your loved ones through the stress and costs of untangling your estate? It’s often... Continue reading
Posted Nov 9, 2017 at Oklahoma City Estate & Tax Planning