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Steve Kane
Orlando, Florida
Interests: History, Safari's, Cycling, Swimming, Ballroom Dancing
Recent Activity
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“Bush famously wasn’t a self-made millionaire before the 1960s, when he was already in his early 40s.The presumption there is that he didn’t personally inherit a huge amount of wealth early on. Tax returns back it up.” For a guy who was often derided as living in a bubble of... Continue reading
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“An inheritance or estate waiver releases an heir from the right to claim assets, in the event of another person's death. A legal document is drawn and signed by the heir that forgoes the legal rights of the items.” There are several primary legal reasons why a person will use... Continue reading
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“We all know our days are numbered and there is nothing that we can do to prevent it.” Many of us recently watched the funeral of former President George H. W. Bush. There must have been considerable planning done ahead of time to make sure everything ran as smoothly as... Continue reading
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“Instead of focusing on risks that we are aware of, we should be turning our focus to risks that we are oblivious to, Walter Updegrave writes in TIME.” How can you navigate towards a successful retirement? It’s simple, says Wealth Advisor in the recent article, “The Three Risks To Prepare... Continue reading
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“Young adults can often feel like they’re immortal, but nobody really knows how long they’ve got left, and that’s why estate planning is key at any age.” Those in their 20s and 30s are strongly encouraged to create an estate plan. A lot can be accomplished in a few simple... Continue reading
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“Once you're gone from this earth, the task of sorting out your estate plan can be a maddening puzzle that might even spawn a family feud and end up in court.” The Street lists the “3 Worst Estate Planning Mistakes and How to Avoid Them.” These are issues that frequently... Continue reading
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“Ethical wills are written by men and women alike, with the goal of communicating personal wisdom and values to the next generation.” Ethical wills aren’t new. They’ve been around for centuries and were once communicated verbally to pass on values to future generations. Ethical wills are now written with the... Continue reading
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“Many people investing in retirement plans, such as 401(k), 403(b) and IRAs, don’t fully understand tax-deferred investing.” A recent Forbes article asks the question, “Want To Cut The Taxes In Your Retirement Money?” Who doesn’t? What are some of the major tax issues related to retirement planning and investing? We... Continue reading
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“The holidays can be a wonderful time spent with family you don’t get to see often. However, it can be difficult, when you notice that mom or dad is starting to seem less like themselves.” Discussing the next steps isn’t an easy conversation, but if you plan ahead it can... Continue reading
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“Estate planning isn't only for the rich. Without a plan in place, there could be a long-lasting impact on your loved ones, even if you don’t have a pricey home, large IRA or valuable art to pass on. Are you still not convinced that estate planning is necessary?” Investopedia’s recent... Continue reading
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“While the vast majority of Americans won't have a taxable estate ($22.4 million per couple under the 2018 Tax Cuts and Jobs Act) when they pass away, a little bit of estate planning with an attorney can go a long way toward avoiding potential issues for you and your family.”... Continue reading
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“Thanks to a late-year IRS decision, planners can now reassure clients that they won’t have to worry about making large gifts.” There were many questions after the new tax law increased the basic estate and gift tax exemption levels, but didn’t make those changes permanent. The changes increased the exemption... Continue reading
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“House lawmakers have taken a step toward extending crucial—but expiring—financial protections to seniors receiving long-term care in home or community settings. They did so with backing from more than a dozen health care and provider organizations.” Typically, to financially qualify for Medicaid long-term services and supports (LTSS), a person must... Continue reading
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“If you have not executed a medical directive, I strongly recommend doing so. If you do have a living will, I suggest you review your document periodically to be sure it still provides the best options for carrying out your wishes.” An important part of estate planning is a medical... Continue reading
“Three adult children of the late-singer Glen Campbell have ended their effort to contest their father's will, which specifically excluded them from any inheritance.” The Tennessean mentions in its article, “Glen Campbell’s children give up challenge to singer’s will,” that Glen Campbell died August 8, 2017, at age 81, in... Continue reading
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“Voters in Idaho, Nebraska and Utah approve growth, but Montana’s expanded coverage might end.” With the midterm election, another 300,000 Americans will soon be eligible for Medicaid. The people in Idaho, Nebraska, and Utah voted to extend the health care program for low-income people, many of whom are over age... Continue reading
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“It's not only wealthy individuals who can benefit from starting a trust fund.” Trust funds are often associated with the very rich, who want to pass on their wealth to future heirs. However, there are many good reasons to set up a trust, even if you aren't super rich. You... Continue reading
“Stan Lee, the co-creator of superheroes including Captain America and Spider-Man, left this universe with a long list of unfortunate events, and not even the Avengers can help with this one.” The 95-year-old former Marvel Comics publisher and chairman, Stan Lee, was ill for the last year. He was survived... Continue reading
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“Paul Allen’s last will and testament, made public Thursday, does not offer specifics on the late billionaire's assets, but rather points to a trust established decades ago.” Paul Allen’s last will and testament doesn’t give us many details on the late billionaire’s assets. Instead, it refers to a trust established... Continue reading
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“Being left out of a will, is not a situation most people want to be in. However, sometimes when a will comes to light, its contents are unexpected. They can exclude those who assumed they would be included. If you are left out of a will, there are some time-sensitive... Continue reading
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“Bringing up the 'P' word before you marry may be awkward. However, you can always tell your intended, 'My lawyer made me do it.'” Many people think that prenups (prenuptial agreements) kill the romance. However, the CT Post asks, in its article, “Millennial Millionaires and Their Prenups-What They Need to... Continue reading
“Roth IRAs must still follow many of the same rules as traditional IRAs, however, including restrictions on withdrawals and limitations on types of securities and trading strategies.” Roth IRAs are very popular. You pay taxes on the contributions today, and then investors can avoid paying taxes on capital gains in... Continue reading
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“Assets in 529 plans have grown significantly in recent years, due to their college planning potential. However, there’s another side to 529 plans that may appeal to you—potential estate planning benefits.” To understand the way in which a 529 college savings plan can work with an estate plan, it’s important... Continue reading
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“While advanced estate plans can be very in-depth, there is a way to simplify one’s estate planning process.” Many investments allow an investor to name a beneficiary of the asset upon death. The proper use of this benefit can make a person’s estate plan much more efficient, says the Tupelo... Continue reading
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“Michigan, unlike some states, lets your next of kin decide what happens to your remains—even if it goes against your wishes.” Michigan has a relatively new state law designed to let you have a final say, even in death, by naming a funeral representative who will decide your arrangements and... Continue reading