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Estate Planning for Beginners: Wills and Trusts
Every new project has to begin somewhere, and most newcomers to estate planning choose to begin with a will and a trust. This is because wills and trusts form the foundation for how your property will be distributed, how your heirs will be cared for, and how the probate process and estate taxes will be […]
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Even the Most “Normal” Families Require Special Estate Planning Consideration
Many people would like to think that estate planning is a piece of cake: choose your beneficiaries, write up a simple will, and voila – you’re done! The truth is that while estate planning can sometimes be achieved with this amount of simplicity, most of the time there’s more to it than that—a lot more—especially […]
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Take Advantage of Tax Law Changes and Give Grandkids a Head Start
We’ve recently seen a number of news stories with disturbing figures about the rising cost of college education, and the growing inability of graduates to pay off the debt they incur from student loans. In fact, recent studies reveal that student loan debt now exceeds credit card debt in the U.S.! All of this has […]
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Retirement Planning Goes Back to its Roots
When it comes to retirement planning you can find suggestions, rules and guidelines of just about every shade, but it wasn’t until this article in the U.S. News and World Report that we’ve seen the biblical “7 Deadly Sins” applied to retirement planning. The tone of the article is light and tongue-in-cheek, but the advice […]
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What to Do When Mom Can No Longer Manage Her Own Money
One of the most difficult aspects of caring for an elderly parent (or helping an aging parent who lives far away) is keeping one step ahead when that parent begins to lose the ability to manage his or her own finances. Many seniors can be very resistant to discussing what they feel is an extremely […]
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How to Protect and Pass On Artwork, Antiques, and Other Valuable Assets
Some assets—such as real property, stocks and savings—are fairly straightforward when it comes to bequeathal to heirs; other assets—such as valuable artwork or antiques—are not so easy. How do you will an asset to a loved one when there is no deed of ownership? And just as importantly, how do these paperless assets figure into […]
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New Portability Provision Should be Considered with Caution
A new “Portability Provision” in The Tax Relief, Unemployment Insurance Reauthorization, and Jobs Creation Act of 2010 has some couples excited about the financial possibilities. As explained in this article in the Wall Street Journal, the new portability provision “permits surviving spouses to elect to use the unused portion of the estate tax applicable exclusion […]
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New Criteria for Alzheimer’s Can Lead to Early Diagnosis, Better Treatment and Planning
In our practice, we often encounter clients who have family and friends who suffer from Alzheimer’s Disease. This is a devastating illness which affects families all over the country; from the adult child who fears that her father’s recent forgetfulness might be a harbinger of something more sinister, to the elderly gentleman who wonders how […]
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5 Missteps That Can Sabotage Your Estate Plan
My husband and I just came back from a lovely trip to Taiwan visiting family. I’ve posted some of the photo of our trip in the “What Does Kimberly Do Outside of the Office” section. Returning to work with a refreshed mind and body, I want to remind you that when it comes to protecting […]
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Understanding Your Last Will and Testament
Although recent news surrounding the estate tax—both its repeal and its reinstatement—has died down, many people are still talking about their estate plans. Most people recognize that now is the time to create their estate plan, or to review and update their existing plan if they have one. This means that many people are asking […]
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