The Quiet Devastation of Alzheimer’s Disease
According to a recent report put out by the Alzheimer’s Association, 5.3 million people have Alzheimer’s disease. Chances are that you or someone you know has been touched by this illness. In spite of these overwhelming statistics, Alzheimer’s continues to be a disease that sneaks up on individuals and their families, quietly tearing apart lives […]
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Take Care in Making Large Gifts to Heirs
Do you have a provision in your will or trust to pass your house on to your kids when you die? If so, you may want to consider giving the house to them now, before the end of the year. According to this article in the New York Times, doing so could be beneficial to […]
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Can You Foolproof Your Power of Attorney?
“The best laid plans of mice and men often go awry.” Although we hate to admit it, this statement will also sometimes apply to estate planning; and more often than we would like, it happens with powers of attorney. A power of attorney is the document in which you nominate an agent (or attorney-in-fact) to […]
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10 Phone Calls to Make After the Death of a Loved One
Coping with the death of a loved one can be a crushing task. There are so many things to do and details to remember; all of this at a time when each small task can serve as a reminder of your loss. At such a time it can be helpful to know that you’re not […]
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Executors and Agents: Choosing Your Own Replacement
When people think about estate planning they generally think about inheritance, or taxes, or even guardianship—but rarely are the words “executor” or “agent” the first ones that come to mind. And yet, choosing your executor or your agent is one of the most important decisions you’ll ever make. Your executor is the person who carries […]
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Lapse in Generation-Skipping Transfer Tax Makes Giving to Grandkids Easier Than Ever
Wealthy grandparents have a unique opportunity this year to give their grandchildren gifts of substantial value without incurring any gift tax. This is a huge savings opportunity!—so why aren’t more people taking advantage of it? Part of the reason may be lack of awareness. Everyone knows about the Bush administration’s year-long repeal of the estate […]
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Charitable Remainder Trusts: Philanthropy in Death Can Benefit You in Life
If you have a favorite cause or charity you have probably considered leaving some money to that charity in your estate plan. Perhaps you’ve even taken it a step further and toyed with the idea of specifying that the executor of your will or the trustee of your trust to set up a trust in […]
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How to Prepare for Changes to Estate Tax Law
This may seem like we’re listening to a broken record, but once again Congress’ inability to act is creating uncertainty in the estate-tax-planning world. We’re little over 3 months away from a major upheaval in the estate tax, and according to the New York Times the upcoming law is likely to cause a lot of […]
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How to Help Your Elderly Parents When You Live Far Away
We’ve written often on this blog about the concerns that caregiver children have for their elderly parents, but that’s only one side of the story. Many families also have an adult child living far from home, and though the concerns of the long-distance child may be different from the one who lives down the street, […]
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Planning to Live Through the 2010 Estate Tax Repeal? You Can Still Save on Taxes
It is common knowledge that 2010 is a great year for heirs. If you didn’t know about the 2010 estate tax repeal, all the media coverage of George Steinbrenner’s recent death (and his heirs’ lucky tax break) probably alerted you. Everybody is saying that 2010 is a good year to die… But what about those […]
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