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Kiernan Waters
Annapolis
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It’s not an easy time to be a home buyer, since bank requirements for mortgages are stringent and in some markets, the inventory is low. One way to boost your chances of getting a mortgage and winning a bidding war: a bigger than usual down payment. Tapping your retirement account... Continue reading
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Deciding where to live, once you are free to choose, based on preference and not work, is a big decision. The freedom that comes from being able to live where you want, not just where you work, is very liberating for those over 60. Nearly two thirds of Americans move... Continue reading
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Victor Posner amassed an extraordinary amount of wealth as a corporate raider, but his estate is as messy now as his business affairs were while he was alive. A lawsuit has been filed against a prominent Miami law firm by Brenda Nestor, the business associate and former girlfriend of businessman... Continue reading
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Your estate is mainly about the assets you own. However, your legacy represents your purpose, your values and the impact that you leave for others. A “Purpose” trust could bolster your legacy. The use of a “purpose” trust, as reported in Forbes’ recent article, “Why You Should Consider Using a... Continue reading
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If you work for a steady paycheck, chances are you have part of your paycheck regularly automatically deposited into a retirement account. However, “giggers,” who can’t afford to save or lack fiscal discipline, face a rough retirement road. A recent study from GOBankingRates says that close to half of Americans... Continue reading
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For younger patients, early-onset Alzheimer’s symptoms are usually disregarded or blamed on fatigue, depression or stress. It often takes a very long time before a young person having problems with memory loss or confusion is diagnosed with Alzheimer’s disease. The Concord Monitor reports, in “Stolen Memories: Problems with diagnosis of... Continue reading
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If you are 50 or older, you can put $6,500 into your Roth IRA: that includes a “catch up” contribution of $1,000. Typical Roth IRA contributions are still limited to $5,500 a year. There are income limits, which you’ll need to be careful about. One good thing about the new... Continue reading
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We insure our homes, our cars and even our ability to work. We also buy life insurance, which could be the most important insurance policy you own and not just for when you have passed away. People typically think of life insurance as a means of paying final expenses, such... Continue reading
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Use this checklist to be certain that you and your finances are properly prepared for retirement. According to The Center for Retirement Research at Boston College, 20% of Americans are wrong about when they’ll be able to retire. That also means that 80% have it right—which group do you belong... Continue reading
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Control of an asset is a key element, when Medicaid considers an individual’s eligibility. A recent article from nj.com, “What revocable land trusts mean to Medicaid eligibility,” starts with what sounds almost like a warning: it’s not easy to protect or hide assets from Medicaid. A revocable land trust won't... Continue reading
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Famed for a long string of husbands, Zsa Zsa’s estate auction will include the glamorous four-poster bed that she shared with three of her nine husbands. Yes, nine! If you’re in the market for glitz, check out the estate sale of the late Zsa Zsa Gabor, actress and socialite as... Continue reading
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A survey found that Gen Xers are less concerned about retirement planning than they are about other financial challenges. Don’t forget that group that’s between the headline grabbing millennials and boomers: Generation Xers, Americans between ages 36-55. A survey from the IRA (Insured Retirement Institute) appears to have uncovered a... Continue reading
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The new Tax Cuts and Jobs Act have made the Roth more attractive as retirement savings vehicles. Here are the two biggest tax advantages from Roth IRAs: withdrawals are tax free, and you don’t have to worry about required minimum distributions. According to MarketWatch’s article, “How the new tax law... Continue reading
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If you are an adult, you need a will. If you are a parent, you need a will that names guardians for your minor children. Anyone who is an adult, should have a will. The core of an estate plan is a document known as a will, the legal document... Continue reading
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They say that numbers don’t lie—and you definitely want to know about this data! Before you decide to retire at age 62 and start taking Social Security benefits, you may want to dig a little deeper into the statistics, especially if you are a man. “Your life might depend on... Continue reading
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You can now pass more wealth onto heirs free of federal estate tax, and there are new opportunities for trusts and gifting to further reduce income taxes. The new tax law was a gift to wealthy Americans, but taking advantage of the changes requires a review of everyone’s estate plan,... Continue reading
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First, you’ll spend more, and then later, maybe, you’ll spend less. Being realistic about what lies ahead and how much it will cost will lead to a more enjoyable retirement. People always ask “how much money will I need to retire,” but there’s no magic number. How much depends on... Continue reading
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If circumstances did not permit you to save as much as you wanted, or unexpected costs dented your retirement accounts, a reverse mortgage may be an option to consider. Reverse mortgages can be very attractive solutions for retirees who find themselves short of funds, since a reverse mortgage will not... Continue reading
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Once your divorce is done, you still have work to do. There are many financial and legal tasks to tackle, which cannot be ignored, unless you want to create big problems in the future. There is nothing pleasant or easy about working through a divorce settlement. Emotions run high and... Continue reading
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Preparing for an emergency includes preparing a “go bag”, in case you have to evacuate in a hurry. However, there are legal and financial documents that also need to be in that bag. Here’s why. It seems that every week brings dramatic news footage of families coping with hurricanes, mudslides,... Continue reading
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Over-the-top possessions or carefully decorated interiors are all finding favor with young collectors, whose interest in what’s left behind from high profile lives is driving a flourishing trend in estate sales. If the original wood wall paneling or reddish-brown bedding in a New York apartment had belonged to an unknown... Continue reading
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Planning your own funeral sounds morbid, but if you think of it as a gift that alleviates pressure and decision making for your loved ones during a very difficult time, it might make it easier to move forward. Usually the call comes to the estate planning attorney from a child... Continue reading
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A district court decision that granted the trust that owns Hobby Lobby a $3.2 million refund has had its decision overruled by the Tenth Circuit. That refund claim by the largest privately-owned arts and crafts retailer had been based on charitable contributions of appreciated property. Started as a home business... Continue reading
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This is easier in some families than others, but discussing your parent’s estate plan and assets while they can still have that conversation is important for millennials. Think of it this way: you can have an awkward conversation with your parents now and everyone can get more comfortable with the... Continue reading
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State laws vary, so be sure to check with an estate planning attorney if you are leaving assets to family members who are not children or parents. Inheritance taxes in different states treat different family members differently, so you’ll want to plan this in advance to avoid saddling beloved nieces... Continue reading