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Kiernan Waters
Annapolis
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It’s great that overall our life expectancies have increased, but with longer lives, comes a greater risk of bad choices and financial elder abuse. There are steps you can take to protect those you love. As we age, so does our brain. Even high functioning retirees, who have no outward... Continue reading
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With less than half of Americans having an estate plan in place, we are in the same boat as celebrities, like Aretha Franklin or Prince. While our estates may not match their assets, the messes left behind are just as painful to family members. A recent survey from caring.com found... Continue reading
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Whether or not to roll a 401(k) into an IRA when you are changing jobs or retiring early, does not have a simple yes/no answer. There are a number of factors to consider. If your retirement plan includes retiring before you reach age 59 ½, you may not want to... Continue reading
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You might think that pastors, who lead congregations in occasions of birth and death, would be a little more aware than the rest of us of the events of life, and by extension, the need for an estate plan. However, a recent survey shows otherwise. A survey of Southern Baptist... Continue reading
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When you inherit a home from your parents, there are several tax issues that need to be addressed. They differ by state. You’ll need to understand the details, so you don’t end up with a tax surprise. When a home is transferred from a parent to a child, there is... Continue reading
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The cost of raising a child with special needs is easily twice that of an average child, and college costs are higher as well. Families with special needs children need to plan their child’s future carefully in many regards, and financial concerns are, by necessity, a big part of planning.... Continue reading
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Talk about a train wreck waiting to happen: beneficiary designations from three or four decades ago can really create a problem for your heirs—or those you thought were your heirs. Most people fill out beneficiary forms when they start a new job, open an investment account and open bank accounts.... Continue reading
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Tuition refunds, K-12 education costs and rollovers to ABLE accounts for disability-related expenses, will now reflect recent tax law changes. New regulations that reflect changes from the 2015 Protecting Americans From Tax Hikes (PATH) Act, and the 2017 tax overhaul will be issued by The Internal Revenue Service (IRS) and... Continue reading
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She says her father was suffering from Alzheimer’s disease, and that’s why he cut her out of the will. However, she also hadn’t seen or spoken to him for more than two decades. There’s a big estate battle brewing in Britain, where the 61-year-old daughter of Reg Grundy, Kim Robin... Continue reading
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There’s a saying about people who don’t have an estate plan created. They have a will, it’s just not the one that they want. Decisions are made by the state, and that includes who raises their kids. If you’ve got young children under the age 18, says CNBC in a... Continue reading
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Kentucky law affirmed that money remaining in a POD account after one of the owners died, belongs to the survivor. That’s the whole point of a Payable On Death account. Known as a POD or a Totten trust, a Payable on Death account is a way to own accounts, usually... Continue reading
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Even when planning for competency issues is in place, there can still be problems. When a highly-intelligent public figure makes decisions his kids thinks are wrong, who is right? The case of Buzz Aldrin, who is taking his son and daughter to court on charges of fraud, conspiracy and exploitation... Continue reading
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The estate of one of America’s best loved country singers is facing a struggle, since the interim administrator of the estate is asking the court for the legal muscle he needs to hire accountants and other professionals. Stanley B. Schneider, Glen Campbell’s publicist, has filed a motion in Davidson Probate... Continue reading
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If taxes and cost of living are important factors for you, here’s a look at states where you should only retire with a good reason, like family ties. You’ve read plenty of surveys about the best places to retire, but have you ever looked at the worst ones? Think Advisor... Continue reading
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The ability of the state to set laws regarding estate taxes has been exercised by Maryland, which has put its own estate law in place, separate and apart from the IRS. The state legislature of Maryland has passed a law following the new tax reform that will limit the state’s... Continue reading
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What kind of funeral do you think your almost ex-spouse will plan on your demise? Avoiding that scenario is easy to fix, even if you intend to stay permanently separated: update your estate plan. The unsettling week that brought news of two very accomplished people who took their own lives... Continue reading
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Included in the budget legislation signed by New York’s governor, is a new requirement that protects senior homeowners by establishing a pre-foreclosure notice process and a fix to notifications and settlement conferences that were created by legislation in 2017. For seniors who don’t have enough income to cover their expenses,... Continue reading
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If you are a furry “parent” who loves your pets, be sure to include plans to care for your pet after you are gone. Help them avoid a sad fate. Animal shelters are the final home for many cats and dogs whose owners neglect to plan for their care, wrongly... Continue reading
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Included in the list of executor’s duties, is managing the assets of the estate, including its debts. Debts that have not been resolved before a person passes away, become the responsibility of the executor and the estate. How to handle this common issue is addressed in a recent article from... Continue reading
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If your children depend on you financially or they’ve come to count on you as a regular babysitter, you’ll all need to address what comes after you retire. Seniors who have been looking forward to moving to a less expensive area, living in an RV as long as their health... Continue reading
In her recent guest column in the Sunday edition of the Capital Gazette, Victoria W. Bayless, President and CEO of Anne Arundel Medical Center, advocates for AAMC's cardiac surgery program. More than three years ago, Anne Arundel Medical Center sought permission from the State of Maryland to bring a cardiac... Continue reading
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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