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Kiernan Waters
Annapolis
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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
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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