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MaKayla Hanington
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Hybrid policies, aimed at affluent Americans, offer long-term-care benefits along with potential death benefits. Last year, after finishing with college tuition for their three children, Jessica Galligan Goldsmith and her husband, James, treated themselves to something she had long wanted: long-term-care insurance. It hasn’t been cheap. The couple, both lawyers... Continue reading
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Neglecting to plan for family dynamics can destroy the best estate plans. Make sure to address both difficult personalities and tax liabilities. They can be equally problematic. Saving loved ones from a large tax bill and maximizing the transfer of wealth across generations is great, but your estate plan needs... Continue reading
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The goal is to have more people aware of what elder abuse is and what to do when they see it. The more people who can act, from police to community members, the better. Under the leadership of Kansas Attorney General Derek Schmidt, a new initiative is being launched that... Continue reading
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Most young adults are not thinking about retirement when they get their first jobs, but starting early, even if on a very small scale, can make a big difference. When you are working to pay off student loans and trying to save enough to get a place of your own,... Continue reading
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Having a will prepared is a gift of kindness to your loved ones. They will appreciate the effort to care for them, after you’ve passed on. If you need another reason to have a will prepared, consider the potential for conflict among loved ones who will have to guess about... Continue reading
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It’s as important to understand what services are not offered at an assisted living facility, as it is to know what services are available. Residents with medical issues may not be suited for this lifestyle setting. For seniors who no longer wish to live on their own, assisted living facilities... Continue reading
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Not one, but two of the pop stars boyfriends are claiming that they should have been included in his will. Pop legend George Michael’s multi-million dollar estate and properties were given to sisters Melanie and Yioda and no provisions were made for his ex-boyfriends Kenny Goss or Fadi Fawaz. However,... Continue reading
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Thoughtful planning will help a second marriage avoid certain issues that didn’t exist the first time around. Most lives are more complex, with children and assets from first marriages. A second marriage is more likely to succeed, if the couple addresses key questions in advance, especially those concerning finances. You’ll... Continue reading
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You need an estate plan, whether you are rich or poor or somewhere in the middle. Without one, decisions will be made for your family that you may not have wanted. More than half of all Americans do not have a will, reports Wealth Advisor in the recent article, “The... Continue reading
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Yes, there are taxes due on inherited annuities. The amount depends upon your relationship to the deceased and the value of the annuity. If it seems like everything is subject to an inheritance tax, well, that is often true. In a recent article from nj.com, “Who pays inheritance tax on... Continue reading
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Don’t delay finalizing your estate plan, because determining who to name as you executor is difficult. Here’s some help to figure out how to make this important decision. If there are no family members or friends with the necessary skills, your best option may be to name your attorney as... Continue reading
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People moving into an assisted living facility, should do a lot of research to make sure they get the quality care and the services they need. Their lives may depend on it. Life in an assisted living facility is a welcome alternative to aging seniors who are no longer able... Continue reading
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When Glen Campbell passed away in August 2017, rumors about his will, debts and assets began to circulate. It may be a long while before the dust settles. Some of the stories circulating about famed country legend Glen Campbell, say that his widow Kimberly is suing the estate for more... Continue reading
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Even with the new tax laws in place, there are still advantages to philanthropy, at all levels of giving. There are many ways to support causes that matter to you. Some charitable giving can be incorporated into your estate plan, according to Investopedia’s article, “A Primer on Philanthropic Vehicles.” However,... Continue reading
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The saying “little children, little problems, big children, big problems,” is particularly appropriate for parents of special needs children. Preparing for the next phase takes time, so it’s best to begin the process, once they celebrate their 17th birthday. One of the many decisions that parents need to make before... Continue reading
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This case involves the issue of whether and to what extent superior courts have authority to intervene in the administration of nonintervention estates.” A successful business owner, Mildred Vail had purchased a number of properties in the Healdsburg area during the course of her lifetime. She was also the mother... Continue reading
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You don’t need to create a spreadsheet or write a book-length plan, but anyone in their 50s, who wants to have a successful retirement, is advised to start getting their thoughts organized. Research shows that people who have more specific ideas of how they want to spend this part of... Continue reading
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Wordplay aside, the use of nonintervention clauses in an estate plan becomes an issue unto itself, when heirs disagree. The Washington Supreme Court ruled “In re Estate of Rathbone” that a trial court could not construe the nonintervention will independently of the personal representative, because the Trust and Estate Dispute... Continue reading
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The use of technology—including cell phones, emails and social media—has dramatically increased the number of potential victims. There’s good news and bad news on the elder fraud front. Law enforcement recently conducted the largest sweep of elder fraud cases specifically targeting the elderly, according the article “Law Enforcement Conducts Largest... Continue reading
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With an estimated 10,000 Boomers retiring every day, members of this generation who own businesses should already have their succession plans in place. Exit or succession planning is a lot more complicated than most business recognize. It takes a long time if it is to be done properly. A recent... Continue reading
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The idea of willingly becoming impoverished, in order to qualify for long-term care, is an unfortunate necessity for many, as illnesses strike in their later years. Sometimes it takes a village to plan for Medicaid and, as reported by CNBC recently, in “Here’s a surprise source you can tap for... Continue reading
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Since cryptocurrency is moving into the mainstream, it presents some potential challenges for estate planning. You can’t touch cryptocurrency the way you can touch bills or coins, and it’s a still a modern mystery for many people. However, if you have a lot of it, you need to put a... Continue reading
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In 1977, New York Law Journal featured an article asking if a photostatic reproduction of a testamentary instrument complied with New York’s statutory requirement, that a will must be “in writing.” Forty years later, we are still figuring out digital wills. What if a will is not on paper, but... Continue reading
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Will you pay more this year? A maze of rules creates unexpected outcomes, even one rule that was meant to protect seniors from increases that lead to increases! A recent article in Kiplinger’s, “Medicare Part B Premiums Rise for Some,” is proof of what often happens when government makes the... Continue reading
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This particular case centers on a complex and somewhat abstract concept: did the “injury” that occurred happen to the corporation or the individual? The court needed to determine which one the action belonged to, because the rules are different for each. A recent case heard by The Mississippi Supreme Court... Continue reading