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Cincinnati Estate Planning Attorney
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“A key financial question for retirees, is what to do with their hard-earned retirement savings. For example, some investors may find it more fulfilling to provide a college fund for grandchildren, rather than purchase a second home for themselves. The opposite can also be true, and that's okay.” Once you... Continue reading
Posted yesterday at Cincinnati, Ohio Estate Planning
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“Sunday will mark the third anniversary of Prince’s death from an opioid overdose at the age of 57.” Three years later and the “Purple Rain’s” estate remains as unsettled as it was on the day he died in his beloved Paisley Park mansion, located just outside of Minneapolis, says the... Continue reading
Posted 2 days ago at Cincinnati, Ohio Estate Planning
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“Let’s talk about death. Specifically – have you planned what will happen after yours?” Yes, death is the ultimate grim topic. However, it is an important one to discuss with your loved ones and your estate planning attorney. If you don’t have an estate plan in place, and one that... Continue reading
Posted 3 days ago at Cincinnati, Ohio Estate Planning
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“Telling an elderly parent that they need to stop driving and taking away their car keys, is one of the most difficult things adult children have to do.” Losing the independence that comes with being able to drive, is often followed by the realization that parents can no longer be... Continue reading
Posted 4 days ago at Cincinnati, Ohio Estate Planning
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“Many people do not create an estate plan or do not consider all of the ramifications of their actions. This may be because they never get around to doing it, or they don’t believe their estate is big enough to require a plan.” Anyone who has any assets they want... Continue reading
Posted 5 days ago at Cincinnati, Ohio Estate Planning
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“As a cognitively healthy adult, you have the right to be informed about the state of your health and make your own decisions about medical treatment. What happens, however, if you become unable to voice your own decisions?” Advance health care planning comes into play, if a person becomes incapacitated,... Continue reading
Posted May 17, 2019 at Cincinnati, Ohio Estate Planning
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“Women have long been at a disadvantage in retirement. Generally, they earn less than men, interrupt careers to raise children or care for parents, and live longer.” Retirement is a challenge for single women. Their retirement savings tends to be lower than married, or even widowed, women. Married women may... Continue reading
Posted May 16, 2019 at Cincinnati, Ohio Estate Planning
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“To care for one another, many retirees are living together.” A 75-year-old woman realized that she had reached the point, where she couldn’t live alone anymore. Deborah Knox had Parkinson’s disease, and needed help, if she was going to stay in her three-bedroom house. However, when her new roommate came... Continue reading
Posted May 15, 2019 at Cincinnati, Ohio Estate Planning
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“Saving more money early is sound advice, but not always possible. You may be able to pick up the pace after the children are grown.” Maybe you haven’t looked at your 401(k) statement in a while, but if you have and it doesn’t seem like it will be enough for... Continue reading
Posted May 14, 2019 at Cincinnati, Ohio Estate Planning
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“Genuine dependency does not include creating a tradition of Sunday family dinners or having Mom do one’s laundry occasionally. However, both children and parents should realize that being independent should not include frequent financial loans or paying a grown-up child’s regular expenses, such as rent or phone bills.” Parenting is... Continue reading
Posted May 13, 2019 at Cincinnati, Ohio Estate Planning
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“Statistics tell us that it is very likely one or both of our parents will end up in a nursing home or rehabilitation center for an extended period. If you’re like most people, you do not know a whole lot about your parent’s finances.” Imagine that your perfectly fine, aging-well... Continue reading
Posted May 10, 2019 at Cincinnati, Ohio Estate Planning
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“If you’re like most individuals, you have no idea how much income you will really have in retirement. While you’ve probably heard of the retirement withdrawal strategies like the 4% rule, it’s hard to know where to start.” You’ve spent years saving for retirement, and maybe you’ve gotten that down... Continue reading
Posted May 9, 2019 at Cincinnati, Ohio Estate Planning
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“Over the years as the tax code changed both for estates, individuals and corporations, proper planning considers not just taxes but the ultimate goals of the taxpayer, whoever that taxpayer might be.” Tax planning is part of the estate plan, but it is just a part of it. Here’s one... Continue reading
Posted May 8, 2019 at Cincinnati, Ohio Estate Planning
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“Planning to hand off significant assets, especially a business, to the next generation is a financial decision. However, it is one that also requires the careful handling of a family’s internal dynamics.” Creating a succession plan for a family business needs awareness of more than just spreadsheets, says the article... Continue reading
Posted May 7, 2019 at Cincinnati, Ohio Estate Planning
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“For decades, many retirement planning guides have talked about the three-legged stool of retirement: Social Security, private savings and pensions.” The analogy of a stool for retirement with three legs is no longer the case for many, if not most, American workers, according to the article “New ‘4-Legged Stool’ Can... Continue reading
Posted May 6, 2019 at Cincinnati, Ohio Estate Planning
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“Once a person has filed their 2018 tax return, the next best goal to set and accomplish is to make or review your estate plan.” The best goal to set after completing your tax filing, is to make or review your estate plan, says The Pathway in the timely article... Continue reading
Posted May 2, 2019 at Cincinnati, Ohio Estate Planning
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“Rather than dwelling on looming death and planning a traditional funeral service, the Atlanta woman chose the opposite course: a celebration of life.” In recent years, gatherings to celebrate the life of a loved one are becoming increasing common, especially for terminal ill people, reports Next Avenue in an article... Continue reading
Posted May 1, 2019 at Cincinnati, Ohio Estate Planning
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“If you find it increasingly difficult in recent years to have your power of attorney recognized by banks and financial institutions, it might help to know some of the history behind both changes in the law and in attitude.” If you present a POA (Power of Attorney) to a bank... Continue reading
Posted Apr 30, 2019 at Cincinnati, Ohio Estate Planning
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“You may be surprised at how easy it is to make an expensive mistake with your beneficiary designations.” Your will does not control who inherits all your assets when you die. This is something that many people do not know. Instead, many of your assets will pass by beneficiary designations,... Continue reading
Posted Apr 29, 2019 at Cincinnati, Ohio Estate Planning
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“Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does. Federal estate taxes apply no matter where you live within the U.S. However, eighteen states subject their citizens to estate taxes or inheritance taxes.” It’s safe to say... Continue reading
Posted Apr 26, 2019 at Cincinnati, Ohio Estate Planning
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“Wicked stepmothers are the stuff of Grimm’s fairy tales. Widowed stepmothers are the root of real-life inheritance wars.” The biggest issues in inheritance battles stem from Alzheimer’s disease, widowed stepmothers and estate crime. Certain issues, like signs of dementia, questionable asset transfers and sudden changes in investment risk profiles are... Continue reading
Posted Apr 25, 2019 at Cincinnati, Ohio Estate Planning
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“The trust has a no-contest clause and a lawyer my brother consulted with said that the risk is too great for the return.” It’s impossible to know what is in the heart and mind of the deceased, except to consult their last will and testament. However, when there is a... Continue reading
Posted Apr 24, 2019 at Cincinnati, Ohio Estate Planning
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“These documents could save money but can lay estate planning traps.” An estate planning attorney would much rather not see a family undergoing unnecessary stress and expenses. Do-it-yourself wills and on-line wills very often create problems for families, as reported in Next Avenue’s aptly-named article “The Problems With Do-It-Yourself Online... Continue reading
Posted Apr 23, 2019 at Cincinnati, Ohio Estate Planning
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“The Social Security scam is circulating once again, and officials want to stop it from claiming more victims.” It seems like scammers have become more aggressive and a frightening tone has gotten more than one otherwise sensible person embroiled in them. Crooks are calling and telling people that their Social... Continue reading
Posted Apr 19, 2019 at Cincinnati, Ohio Estate Planning
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“If you were to receive a sizable inheritance, what should you do with it? This money could help you achieve some of your important financial goals , so you’ll want to think carefully about your choices.” While there’s no one way that is right for everyone, there are some basic... Continue reading
Posted Apr 18, 2019 at Cincinnati, Ohio Estate Planning