This is King & Wood, P.A.'s Typepad Profile.
Join Typepad and start following King & Wood, P.A.'s activity
King & Wood, P.A.
Recent Activity
Five Top Reasons to Add Beneficiaries to Investment Accounts
“Losing a loved one isn’t just an emotional burden—it also carries an administrative load. There are flower arrangements to pick, eulogies to write and a stream of paperwork to sort through.” One way to show loved ones that you care, is by having an estate plan and communicating your wishes... Continue reading
Posted yesterday at King & Wood, P.A.
Comment
0
How Does an Intentionally Defective Grantor Trust Work?
“This type of trust can be established to benefit your spouse, children, grandchildren and other descendants. However, it may be more appropriate in some situations than others. Getting to know the details of what an IDGT is and how it works can help you decide if it makes sense for... Continue reading
Posted 2 days ago at King & Wood, P.A.
Comment
0
Can Mom Leave a Home to Daughter but Not Grandchildren?
“If you want a legal plan that avoids probate court, there are two options: first, an enhanced life estate deed, and second a living trust. Each has its pros and cons.” There are numerous ways to accomplish distributing property, according to specific wishes. A woman with three grown daughters faced... Continue reading
Posted 3 days ago at King & Wood, P.A.
Comment
0
Why You Need an Advance Directive Right Now
“COVID-19 is quickly becoming the leading cause of death in the United States. As of today, Indiana has over 37,000 cases of COVID-19 and over 2,100 deaths. That is why articulating your wishes regarding end-of-life health care, is more important than ever.” The number of Americans who have died in... Continue reading
Posted 4 days ago at King & Wood, P.A.
Comment
0
How Can You Disinherit Someone and Be Sure it Sticks?
“Parents may delay creating an elder law estate plan, because of the in-law issue. Some parents are unfortunately estranged from an adult child, only because of the problematic son-in-law or daughter-in-law.” Let’s say you want to leave everything you own to your children, but you can’t stand and don’t trust... Continue reading
Posted 7 days ago at King & Wood, P.A.
Comment
0
Why You Need an Estate Plan, Especially Now
“It's never too early to start working on how your things will be handled, once you pass away.” Estate planning is an all-encompassing term that refers to the entire process of gathering and organizing assets and making preparations for when you die, including caring for minor children and heirs. It... Continue reading
Posted Jul 2, 2020 at King & Wood, P.A.
Comment
0
How Does a Constructive Trust Work?
“Certain types of trusts, however, may only be used in very specific situations and a constructive trust is one of them.” Trusts are useful in estate planning to avoid probate or minimize estate taxes. A commonly used trust is a revocable trust, often used to pass on assets to beneficiaries... Continue reading
Posted Jul 1, 2020 at King & Wood, P.A.
Comment
0
Using Retirement Funds in a Financial Crisis
“U.S. has been making it easier for people to access long-term savings for emergencies, trading future financial security to stay afloat.” For generations, the tax code has been a public policy tool, used to encourage people to save for retirement and what used to be called “old age.” However, the... Continue reading
Posted Jun 30, 2020 at King & Wood, P.A.
Comment
0
How a Charitable Remainder Trust Works
“The most well-known ‘death’ tax is the Federal Estate and Gift Tax. However, the reality is that few people really have to worry about the cost of federal estate taxes.” The least popular beneficiary is almost always the federal government. Most people are concerned that their estate will need to... Continue reading
Posted Jun 29, 2020 at King & Wood, P.A.
Comment
0
Update Will at These 12 Times in Your Life
“It is also important to realize that it isn’t merely ‘why’ you are updating your will, but ‘when’ you are updating that can make all the difference.” Estate planning lawyers hear it all the time—people meaning to update their will, but somehow never getting around to actually getting it done.... Continue reading
Posted Jun 25, 2020 at King & Wood, P.A.
Comment
0
Quirk in Medicare System’s Observation Status
“Unfortunately, over a decade, the number of observation stays has increased exponentially and is being used, even when patients have a diagnosis and have been admitted by their own physicians.” There’s a troubling quirk in the Medicare system that occurs when older patients are hospitalized and instead of being officially... Continue reading
Posted Jun 24, 2020 at King & Wood, P.A.
Comment
0
Elder Financial Abuse Fraud Occurs, When No One’s Watching
“Take, for example, the sad and sordid tax case of Mary Ellen Cranmer Nice vs. United States of America, which would not have existed if an attentive financial advisor hadn't noticed the large IRA distributions that were allegedly stolen right from under a matriarch’s nose.” The case of Nice vs.... Continue reading
Posted Jun 23, 2020 at King & Wood, P.A.
Comment
0
Are You Making the Most of the SECURE and CARES Acts?
“There have been several law changes that affect IRAs passed since December 2019.” The SECURE Act made a number of changes to IRAs, effective January 1, 2020. It was followed by the CARES Act, effective March 27, 2020, which brought even more changes. A recent article from the Milwaukee Business... Continue reading
Posted Jun 22, 2020 at King & Wood, P.A.
Comment
0
What You Need to Know about Trusts
“Generally, if you own property, have life insurance and/or have other assets which total over $150,000 (including life insurance and real property), you are a candidate for asset protection.” Some people still think that trusts and estate planning are just for wealthy people. However, that’s simply not true. Many people... Continue reading
Posted Jun 19, 2020 at King & Wood, P.A.
Comment
0
Update Will at These 12 Times in Your Life
“It is also important to realize that it isn’t merely ‘why’ you are updating your will, but ‘when’ you are updating that can make all the difference.” Estate planning lawyers hear it all the time—people meaning to update their will, but somehow never getting around to actually getting it done.... Continue reading
Posted Jun 19, 2020 at King & Wood, P.A.
Comment
0
Quirk in Medicare System’s Observation Status
“Unfortunately, over a decade, the number of observation stays has increased exponentially and is being used, even when patients have a diagnosis and have been admitted by their own physicians.” There’s a troubling quirk in the Medicare system that occurs when older patients are hospitalized and instead of being officially... Continue reading
Posted Jun 19, 2020 at King & Wood, P.A.
Comment
0
Your Children Wish You Had an Estate Plan
Posted Jun 18, 2020 at King & Wood, P.A.
Comment
0
Tapping an Inherited IRA?
Posted Jun 17, 2020 at King & Wood, P.A.
Comment
0
Don’t Shrink Your Estate with Last Minute Tax Planning
“Estate planning strategies such as family limited partnerships and gifts to charitable trusts are part of an estate planning professional’s toolbox to achieve client goals, such as minimizing taxes, effectuating philanthropic plans, teaching younger generations about a family business and passing on wealth.” In the best-case scenario, you’d start talking... Continue reading
Posted Jun 16, 2020 at King & Wood, P.A.
Comment
0
Protecting a Digital Legacy
Posted Jun 15, 2020 at King & Wood, P.A.
Comment
0
What Exactly Does an Executor Do?
Posted Jun 14, 2020 at King & Wood, P.A.
Comment
0
What Happens when Mom Refuses to Create an Estate Plan?
“If there's a family member or a friend in your life who refuses to do their will and get their estate in order, here are some tips to finally get them to take action.” This is a tough scenario. It happens more often than you’d think. Someone owns a home,... Continue reading
Posted Jun 12, 2020 at King & Wood, P.A.
Comment
0
Alzheimer’s, Dementia and other Brain Diseases Require Special Estate Planning Steps
“Covid-19 or Coronavirus has created health worries and fear for everyone. For those with underlying health issues, which include multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, or other brain diseases, those concerns are even more pronounced.” There are certain steps that can be taken by individuals, loved ones and family members... Continue reading
Posted Jun 11, 2020 at King & Wood, P.A.
Comment
0
How Does a Spendthrift Trust Protect Heirs from Themselves?
“What steps can be put into place to ensure an adult child, who makes poor decisions, will be secure after the death of the parent? The main asset is life insurance.” This is not an unusual question for most estate planning lawyers—and in most cases, the children aren’t bad. They... Continue reading
Posted Jun 10, 2020 at King & Wood, P.A.
Comment
0
Estate Planning Basics for Difficult Times
“With all these anxieties and unknowns weighing on your mind, it might feel like there’s suddenly a pressing need to get your affairs in order―just in case.” Most people who contract COVID-19 experience mild symptoms, but it does not hurt to be prepared just in case you need to be... Continue reading
Posted Jun 9, 2020 at King & Wood, P.A.
Comment
0
More...
Subscribe to King & Wood, P.A.’s Recent Activity
0 Favorites
Blogs and Sites
Around The Web