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Daryl Carlson
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Although their names are confusingly alike, Medicaid and Medicare are quite different programs. What is the difference between Medicare and Medicaid? There are strict income and asset guidelines that must be satisfied to be eligible for Medicaid coverage. While Medicare is solely a federal program, Medicaid is a joint state-federal... Continue reading
Posted 2 hours ago at Redlands CA Estate Planning
Manziel is living in the moment and enjoying himself, which is something that Namath did throughout his career, continued Mr. Beatrice. We see a potential problem, however, with his outgoing and festive behavior, and it is not directly related to his abilities on the field. Let's talk about the possibility... Continue reading
Posted 3 days ago at Redlands CA Estate Planning
After traveling to Mexico for spring break, Alex developed a severe intestinal bug that landed him in the college infirmary. Franc rushed to visit him there, only to find that doctors refused to discuss his son’s condition, citing privacy concerns. If you have a college-aged child, you may need to... Continue reading
Posted 4 days ago at Redlands CA Estate Planning
...As with hard drives, our limited shelf life requires that we make the most of each day while also planning for a peaceful transition. Having loved ones struggle with managing unorganized financial affairs with no assistance only prolongs grief and blemishes fond memories. Why do most of us give more... Continue reading
Posted 5 days ago at Redlands CA Estate Planning
Some people decide, as Robin Williams apparently did, that it's better to hand down wealth to adult children while you, the parent, are still alive. (Of course, you have to have more than enough assets for yourself to be able to do that.) One benefit is that you will have... Continue reading
Posted 6 days ago at Redlands CA Estate Planning
Why would parents procrastinate on something that it so important to their family’s well-being? The fact of the matter is that life insurance and estate planning are two topics that most people just don’t want to talk about. It is no fun to think about your own demise and picture... Continue reading
Posted 7 days ago at Redlands CA Estate Planning
His Will was written before the birth of his last two children and never updated; thus, his estate plan is completely silent about his wishes for them. The actor's death also highlights the effect that marriage can have on an estate plan. It seems that once a high-profile celebrity passes... Continue reading
Posted Aug 22, 2014 at Redlands CA Estate Planning
No one wants to leave their heirs with a mess to sort out or fight over. Here's a look at the top six things to remember when you're estate planning for a blended family. If you are remarried, how does the new marriage affect your estate planning? There are many... Continue reading
Posted Aug 21, 2014 at Redlands CA Estate Planning
Your first step? Take stock of all your assets. These include your investments, retirement accounts, insurance policies, real estate and any business interests. According to CNN Money's "Identifying your assets" (i.e., part of its Money Essentials Series), a good first step for estate planning is to review and inventory all... Continue reading
Posted Aug 20, 2014 at Redlands CA Estate Planning
Who will be your child's guardian, and who will be the guardian of your estate? Experts say it's a difficult decision many families agonize over, and there's no one-size-fits-all scenario. In the event that you pass away suddenly and unexpectedly, what will happen to your kids? Just the thought of... Continue reading
Posted Aug 19, 2014 at Redlands CA Estate Planning
The best time to discuss finances with your parents is when they are competent, self-sufficient adults. Planning ahead and seeking out the appropriate professional financial assistance on their behalf can help ensure your parents enter their golden years in the most comfortable, stress-free and secure way possible. You may dread... Continue reading
Posted Aug 18, 2014 at Redlands CA Estate Planning
Leaving even a small inheritance to your children requires planning. Regardless the size of your estate, structuring an inheritance properly can avoid problems and help your beneficiaries use your hard-earned assets more wisely. Last year, AARP included an article in its materials titled, "How to Leave an Inheritance to Your... Continue reading
Posted Aug 15, 2014 at Redlands CA Estate Planning
If there is a boogeyman when it comes to family conversations about inheritance, it is not death. It’s the $40 trillion that financial advisers say their baby boomer clients are going to pass to their children either in an orderly way — or in a chaotic mess. A report by... Continue reading
Posted Aug 14, 2014 at Redlands CA Estate Planning
Did you think estate planning would be easier because you don’t have children … or that you don’t really need an estate plan? If so, you couldn’t be more wrong! The website recently posted an article, titled "Aging and estate planning for singles and couples without children," to help... Continue reading
Posted Aug 13, 2014 at Redlands CA Estate Planning
You may have made a giant estate planning mistake without even knowing it — forgetting to update the names of your beneficiaries for your employer-sponsored retirement plans, IRAs, life insurance policies, mutual funds, bank accounts, brokerage accounts, annuities and 529 college savings plans. The recent MarketWatch article, titled “Don’t make... Continue reading
Posted Aug 12, 2014 at Redlands CA Estate Planning
Now is the time to adopt financial habits that determine a successful retirement, even if you’re still in your 20s. (Note: Parents, here is a great article to share with your twenty-something adult children!) If you are a twenty-something, you have plenty of time to think about investing, right? Even... Continue reading
Posted Aug 11, 2014 at Redlands CA Estate Planning
A ruling by the U.S. Supreme Court holding that assets contained in an inherited individual retirement account (IRA) don’t qualify as retirement funds for the purposes of bankruptcy exemption, has turned the estate planning community on its head. Prior to a recent US Supreme Court ruling, inherited IRAs were treated... Continue reading
Posted Aug 8, 2014 at Redlands CA Estate Planning
A scenario commonly encountered within estate planning is when an individual dies while negotiating a separation agreement with their spouse, or when in the midst of divorce proceedings. While a divorce order will void specific bequests to a spouse, merely initiating negotiations or proceedings will not. Married couples typically plan... Continue reading
Posted Aug 7, 2014 at Redlands CA Estate Planning
Your plan is only as good as the people who implement it. When they aren’t competent, don’t pay attention to details, or decide to pursue their own interests, disaster can ensue. The latest case involves the Walt Disney estate. "If you can dream it, you can do it." Walt Disney... Continue reading
Posted Aug 6, 2014 at Redlands CA Estate Planning
Lee is a legendary figure in South Korea as the man who turned Samsung Electronics into a powerful conglomerate. He is also the country's richest man with an estimated net worth of US$11.4 billion. Under Korean inheritance law, an heir will have to pay 50 percent in tax when inheriting... Continue reading
Posted Aug 5, 2014 at Redlands CA Estate Planning
Last week, the Uniform Law Commission drafted the Uniform Fiduciary Access to Digital Assets Act, a model law that would let relatives access the social media accounts of the deceased. Digital estate planning has become a hot button issue in estate planning and technology law. What exactly happens to our... Continue reading
Posted Aug 5, 2014 at Redlands CA Estate Planning
When people die, their assets (cash, real property, investments, savings, car and so on) become the property of their estates. And each estate is obliged to pay all debts, costs, taxes and other liabilities due before it distributes what's left over, according to the deceased's wishes, to the beneficiary or... Continue reading
Posted Aug 1, 2014 at Redlands CA Estate Planning
Income inequality and the estate tax continue to be hot button issues in American politics and culture. Americans have a wide array of opinions about these two linked topics. Comedian John Oliver recently gave his humorous thoughts on them. More and more Americans, especially younger Americans, want to be entertained... Continue reading
Posted Jul 31, 2014 at Redlands CA Estate Planning
Every so often, a client will come in and announce that he or she needs a revocable trust. Typically the request stems from something the client has read in a book or article, or perhaps advice from a neighbor or friend. Of course, not everyone needs a revocable trust ...... Continue reading
Posted Jul 30, 2014 at Redlands CA Estate Planning
Philip Seymour Hoffman did everything in his power to make sure his children were "normal. "When the Capote actor died of a heroin overdose in February, he left the bulk of his estate to his partner, Mimi O'Donnell, and added the unusual request that their offspring be raised outside of... Continue reading
Posted Jul 29, 2014 at Redlands CA Estate Planning