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Frank R. Campbell
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Jane Frankel Sims and Frank Campbell are pleased to announce the newly formed boutique Trusts & Estates law firm - Sims & Campbell. The firm will provide comprehensive services in the fields of Estate Planning, Estate Administration, Trust Administration and Charitable Giving. The combined firm now has offices in Towson... Continue reading
Facing Alzheimer’s is never easy. The impacts of this condition can be felt in every area of life, and it can be hard to escape the added stress. While there is no easy fix for dealing with the repercussions of Alzheimer’s, there are ways to plan ahead to cope with... Continue reading
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If you’ve amassed a multitude of debts, don’t expect them to vanish when you die. Your executor will have to deal with them and your heirs could even get stuck with them. Your debts won’t be your problem when you pass—but they are likely to become your children’s problems. For... Continue reading
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One of the challenges of asset distribution comes when your children’s lives have taken different turns. Do you leave your successful daughter the same amount of money that you would leave to a son who can’t seem to find a direction? It’s not always easy, but decisions do need to... Continue reading
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It is important to understand the basics of special needs planning, so that you can plan for your child’s future. There are many issues to address, but experienced professionals will be able to help. Special needs planning is challenging. It’s important to have a strong team to work with. An... Continue reading
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It’s hard because you want to be sure your chosen person understands your wishes, your financial situation and can make good decisions on your behalf. Not everyone can do that. There is considerable responsibility that comes with being named an executor of an estate, explains MoneySense in the article “Should... Continue reading
Inheriting a house from a loved one can be a wonderful gift or a challenging inconvenience. Depending on your individual circumstances you basically have three choices on what you can do with the home: move into it, rent it out, or sell it. Many times, families will move into an... Continue reading
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You’ve heard the expression “trust fund babies.” However, trusts are not just for the wealthy. They have a number of uses in estate planning and can be helpful at any asset level. The reality of our own mortality keeps some of us up at night. For others, it’s a disturbing... Continue reading
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These may be common mistakes, but they are too important to dismiss and delay. Every year, local television news crews show up at local post offices to see the lines of folks waiting to get their tax returns postmarked on April 15—even when so many of us are using online... Continue reading
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Did you know that most estate laws are governed by state law, and not federal? That’s why any kind of relocation to another state, for retirement or a new job, should have you finding an estate planning attorney and making an appointment soon after you move. If you’ve moved to... Continue reading
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People think of estate plans as one-off documents, but they should think of them more like cars. Estate plans need maintenance, oil changes, tune-ups and if there’s an accident, repairs. As life progresses, you’ll go through a number of stages, from being a teen to an adult, getting married, retiring,... Continue reading
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Low wage workers whose employers don’t offer IRAs, are the focus of pending legislation that would also let employees take the IRAs with them when switching jobs. An interesting new bill is being discussed in the New Jersey legislature that may face some challenges from business owners. It would let... Continue reading
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With an acting career that spanned four decades, Edie McClurg is battling dementia. Her family is trying to obtain court intervention so that they can step in to manage her affairs. Neurological tests have shown that 67-year old actress Edie McClurg, best known for her role in the 1986 movie,... Continue reading
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Looking at your 401(k) statement is like being a kid in a candy shop for some people. All that money sitting in an account with your name on it! However, there are risks to taking a loan against your 401(k) account. A loan from your 401(k) could very easily become... Continue reading
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Florida wins for retirement relocation. It’s inexpensive to live in the Sunshine State, the weather’s good, if you don’t mind a lot of humidity and air conditioning, and taxes are low. If you’re going to have a three-decade long retirement, there’s far worse places to find yourself. It’s no surprise... Continue reading
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You may have noticed a long list of initials behind your financial advisor’s name in their signature block or below their signature on paper letters. Those initials stand for organizations that award designations. You should know what they are and how relevant they are to your financial needs. A recent... Continue reading
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Some of the features of the Roth IRA make it look like a traditional IRA on steroids. There are no required minimum distributions and you have the ability to take withdrawals before you retire and you can even contribute to your Roth IRA after age 70 ½. However, it’s not... Continue reading
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You are so good at what you do that you recently launched a new business. Maybe it’s your retirement dream business? If your skills at bookkeeping and budgeting are nowhere near as good as your new business skill, spend some time learning how to create a business budget. The first... Continue reading
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Ohio has now joined a number of states that are ramping up their efforts to do something about the epidemic of elder financial abuse. Under this new law, the financial penalties are higher and will be used to fund enforcement. The penalty for a person convicted of defrauding anyone over... Continue reading
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Sounds crazy: you’re going to take all your assets and put them in a special kind of trust called a blind trust, where you won’t have any idea of what is happening to your assets and you won’t have any control over them. When you put it that way, yes,... Continue reading
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If an estate plan sounds like something that only an adult needs, and you’re over 18, then congratulations: you qualify. That is true if you have any assets, and if you have children, you definitely need an estate plan. The truth is that everyone needs estate planning. If you have... Continue reading
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As more people inherit IRAs, the chances for serious snafus may surge. Pay attention, because mistakes here can get very expensive, very fast. When you are the executor of an estate, you are responsible for making sure that the decedent’s wishes are carried out, and that includes investments and savings... Continue reading
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Single with a net worth less than $11.4 million in 2019? You’re in luck—you can die knowing that all of your money will pass free of any federal estate tax to your heirs. It was good news for the wealthy—the Tax Cuts and Jobs Act (TCJA) amped up the unified... Continue reading
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Their lives were devoted to family and public service, and to each other. The passing of George H.W. Bush and his wife gave many Americans pause to consider their leadership and their devotion. Few were surprised when George H.W. Bush passed less than eight months after Barbara’s death. Their deep... Continue reading
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The swiftness of fires and floods in the news in recent months, even in places that have never experienced dramatic disasters, puts a spotlight on the need for preparedness. That includes your estate plan. The evening news presents enough reminders about the need to plan for disasters. However, many people... Continue reading