Digital Records and Your Privacy
The rights to access digital assets are scattered through a web of user agreements and federal and state laws. The law protects both a fiduciary’s right to access and the decedent’s privacy. Digital assets include: Electronic communications — emails, social networking sites and blogs. Online reward programs. Financial accounts. Documents stored in the cloud. Income-generating […]
Read More
Myths of the Estate Tax
If you think you can avoid the federal estate tax, you’re probably right. The federal estate tax applies to Americans only if their estates total more than $11.7 million for individuals and $23.4 million for couples. For these very wealthy families, the rate can go as high as 40%. Only 4,100 estate tax returns were […]
Read More
The Spousal Lifetime Access Trust: A Nearly Perfect Tool?
A spousal lifetime access trust (SLAT) is an irrevocable trust where one spouse (the donor spouse) gifts assets to the other spouse (the beneficiary spouse) in a trust. The trust authorizes the trustee to make distributions to the beneficiary spouse if a need arises. It can be designed to benefit one’s children, grandchildren or future […]
Read More
How to Choose a Guardian for Your Child
Appointing a guardian for your children might seem morbid. If you’re a healthy person who doesn’t work a dangerous job, it may also strike you as unnecessary, since your decision usually only matters if you die or become disabled before your child’s 18th birthday. But estate planning is all about hoping for the best and preparing […]
Read More
Tax Breaks for the Elderly
Getting older has its perks, including tax breaks. Your income threshold for filing a tax return at all is higher, you get a bigger standard deduction, and you can defer or avoid taxes on more money. Below are the details of some tax breaks you’ll qualify for when you turn 65. You qualify for a larger […]
Read More
4 Questions to Ask the HOA Before You Buy a Home
So you’ve found your dream home in your dream neighborhood, but there’s just one thing…there’s an HOA. Before you sign on the dotted line and purchase a home with an HOA, there a few questions you should ask to ensure that you will be happy with the home and the HOA. What rules are there? […]
Read More
How To Pick an Executor
There is a key aspect of creating an estate plan that you should not gloss over: choosing whom to carry out the wishes outlined in your will, making important decisions on your behalf. Select someone who’s trustworthy, organized and able to juggle the job along with other life responsibilities. Here are qualities to look for […]
Read More
Estate Planning With Big Age Gaps
Are you in an age-gap relationship? Studies show an age gap among spouses in five percent of first marriages and 20% of second marriages. Estate and financial planning for spouses with significant age differences requires a special focus on making both of your needs work. Financial matters for large age-gap retirement planning include retirement funding, Social […]
Read More
All About Prenups
A prenuptial contract (“prenup”) lists all the property owned by two people who are about to marry, specifying what each person’s property rights will be after marriage. These days, you don’t have to be wealthy or famous to turn to a prenup. Here are some reasons you may want to consider a prenup: You’re marrying […]
Read More
How To Find a Retirement Community
Retirement communities allow you to live independently and receive care as you need it. There are a great number of active older adults living in retirement communities. Some are there to avoid the isolation that can come with aging and living at home alone. If you are considering moving to a retirement community, you should […]
Read More