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Redkey Gordon P.C.
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Most people don't know that their beneficiary designations trump their wills. Failing to update your beneficiaries will hand assets over to people from your past, like ex-spouses and people who you might not have thought about for decades. If you don't remember who your beneficiaries are for your investment accounts,... Continue reading
Posted Mar 25, 2016 at Redkey Gordon P.C.
Frank discussions with your parents take place at different stages of your life. Some families discuss the "facts of life," while others talk about drug use and safety. At this point in your parents' lives, you may be discussing their eventual demise: perhaps the hardest conversation of all. You might... Continue reading
Posted Mar 24, 2016 at Redkey Gordon P.C.
Rules governing IRAs have always been very complicated, and the seemingly simple Roth IRA is no exception. The option to roll funds from a traditional IRA into a Roth IRA might be a great thing – or it might be an expensive mistake. Know what to do before making a... Continue reading
Posted Mar 23, 2016 at Redkey Gordon P.C.
A farming operation of any size requires considerable planning to achieve the owners' goals for when they have passed, whatever the goals might be. Regardless of the ultimate outcome – passing the farm to the next generation or selling it – creating a plan for the future requires a lot... Continue reading
Posted Mar 22, 2016 at Redkey Gordon P.C.
A loving spouse is almost always the first person to see the signs of Alzheimer's. Kim Campbell has taken on an admirable role to help others benefit from her own experience. Wife of music legend Glen Campbell, Kim thought that her husband's forgetful moments were part of the normal aging... Continue reading
Posted Mar 21, 2016 at Redkey Gordon P.C.
Wealthy families at war continue to populate headlines and provide lessons about legacies, the need for good planning and preparation if trustees become incapacitated. A settlement agreement approved today by a probate court judge in Texas has NFL owner Tom Benson's estranged daughter Renee Benson replacing her billionaire father as... Continue reading
Posted Mar 18, 2016 at Redkey Gordon P.C.
Experience is often the best teacher. Unfortunately, you rarely get a do-over when it comes to long-term financial decisions. Simple decisions in one time of your life can lead to a world of trouble later on! Let's continue addressing a series of money decisions from Forbes' "10 Financial Choices You'll... Continue reading
Posted Mar 17, 2016 at Redkey Gordon P.C.
A very private person, the author's estate plan is as secretive as her life. When the author of "To Kill a Mockingbird" was found to have written another novel, "Go Set a Watchman," there was much mystery about the second book, which generated a fortune. Now the mystery surrounds the... Continue reading
Posted Mar 16, 2016 at Redkey Gordon P.C.
With its June 2015 decision, the Supreme Court ruled that the Constitution guarantees a right to same-sex marriage and to all of the estate planning advantages that come with that right. Now that the Supreme Court has made its decision on same-sex couples' right to marry, married same-sex couples should... Continue reading
Posted Mar 15, 2016 at Redkey Gordon P.C.
What would you do if you thought that an elderly neighbor was being subjected to financial or physical abuse by an adult child or worse, a grandchild? Would you know what to do, or would you hope that it was just your imagination and not act at all? One of... Continue reading
Posted Mar 14, 2016 at Redkey Gordon P.C.
When your benefits check comes in the mail, you may want to review it to see how the Social Security changes this year affected you. In the article "Social Security Changes in 2016.", AARP provided a full list of the Social Security changes for this year. No Bump. Social Security... Continue reading
Posted Mar 11, 2016 at Redkey Gordon P.C.
Hindsight is 20-20, and that's especially true when it comes to basic financial decisions. All too easy to put off or overlook, these steps can make a big difference in your financial picture over time. Maybe the biggest rookie finance mistake happens when someone from HR sends you a link... Continue reading
Posted Mar 10, 2016 at Redkey Gordon P.C.
The joy of welcoming a new member of the family is increased by some generous tax deductions from your Uncle Sam. The last thing most new parents are thinking about is taxes, but the addition of a new baby to your family has some nice tax perks, according to "The... Continue reading
Posted Mar 9, 2016 at Redkey Gordon P.C.
The odds of the IRS auditing your tax returns are pretty low, but why take that chance? Certain transactions and situations that tend to occur more in retirement than during working years are red flags for the IRS. Even though only 0.84% of all individual tax returns are audited, knowing... Continue reading
Posted Mar 8, 2016 at Redkey Gordon P.C.
A group of thieves have been charged and one has pleaded guilty as an investigation uncovered a ring of theft and fraud perpetrated against elderly men and women. This is a story that any professional working with seniors finds particularly abhorrent. An investigation by the New Jersey State Police and... Continue reading
Posted Mar 7, 2016 at Redkey Gordon P.C.
Some law students are getting the opportunity to represent men and women who have served in the military. A lieutenant colonel serving in the U.S. Army Reserves was in Afghanistan on his third tour of duty, suffering from Post-Traumatic Stress Disorder (PTSD) and enduring a bad foot injury in 2011... Continue reading
Posted Mar 4, 2016 at Redkey Gordon P.C.
The first quarter of the year is a good time to review your estate plan. It may not need any changes – but chances are good something in your life has changed and your plan may be outdated. Over the course of time, things change that have an impact on... Continue reading
Posted Mar 3, 2016 at Redkey Gordon P.C.
Sometimes it's easier to have a conversation on a difficult topic when you focus on the non-emotional aspects of the subject being discussed and have a checklist in hand. For a generation that is proud of their ability to ignore all kinds of taboos, millennials are no different than any... Continue reading
Posted Mar 2, 2016 at Redkey Gordon P.C.
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 achieve your goals. The same people who put off estate planning have no problem finding the time to plan their vacations. And far too many people... Continue reading
Posted Mar 1, 2016 at Redkey Gordon P.C.
Don't wait until your family is grappling with a crisis to discuss these four important subjects. Candid conversations will help the decision-making process when the tough calls must be made. The challenges facing seniors and their adult children can be placed into four main categories, according to the article "Talk... Continue reading
Posted Feb 29, 2016 at Redkey Gordon P.C.
Your estate plan needs to be refreshed every so often because life's circumstances are always changing. You might be unaware of how much the changes will impact your estate. From Forbes, we learn that 51% of Americans age 55 – 64 don't have a Will. That's bad news for their... Continue reading
Posted Feb 26, 2016 at Redkey Gordon P.C.
Early diagnosis can improve quality of life if it is dementia, and if it is not, your doctor can discuss other reasons for short-term memory loss and treatment options. The older the patients, the less likely they are to discuss a memory problem with their doctor during an office visit,... Continue reading
Posted Feb 25, 2016 at Redkey Gordon P.C.
Don't wait until it's too late to discuss money, death and your personal values with your heirs. If your family can't manage the discussions, then you'll at least know that another tactic is needed. We don't like to talk about money or death. Our children hate the thought of it,... Continue reading
Posted Feb 24, 2016 at Redkey Gordon P.C.
Without clear direction of what executor fees should be, large estates may get caught up in protracted battles, while medium sized estates may find family members at odds with each other. A jumbo sized battle in a high profile and seemingly never-ending estate matter highlights what may appear to be... Continue reading
Posted Feb 23, 2016 at Redkey Gordon P.C.
Whenever an estate battle includes a non-family member, things can get rough. When millions are at stake, you can expect the battle to be as mega as the megachurch in this case. Family members are fighting to lift a shroud of secrecy following the death of a successful bishop who... Continue reading
Posted Feb 22, 2016 at Redkey Gordon P.C.