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Does An IRA Go To The Listed Beneficiaries If There Is A Surviving Spouse?
Father has recently remarried. He has his house; she has hers. Both are paid for and cars are paid for. My dad has an IRA which my brother and I are beneficiaries. We begged for a pre-nup, but they didn't get one. If my father should pass, does his new wife get any of...
How to Plan for the Future While Estate Tax Debate Continues in the Senate
With all the estate tax proposals currently floating around the Senate the future of the estate tax is anybody’s guess... but that doesn’t mean we’ll stop trying to figure it out. A recent article in the Wall Street Journal touches on some of the more recent (and more...
“For Richer or For Poorer, Till Death Do Us Part” Includes Retirement
“I take you to be my lawfully wedded spouse, to have and to hold from this day forward, for better or for worse, for richer, for poorer, in sickness and in health, to love and to cherish; from this day forward until death do us part.” These aren’t just sweet words...
How to Transfer Bank Accounts as Gifts
What if someone wants to give you a Bank Account as a gift. General tax law says that with regard to bank accounts, if your name is added to the bank account and you do not take any money out of the account, there is no taxable gift. The interest earned on the account...
Can You Really Afford Long-Term Care Insurance?
The American Association for Long-Term Care Insurance recently released a report on the costs of long-term care insurance, and the results were surprising. Most people mistakenly believe that long-term care insurance is going to be expensive and difficult; but in...
Who Can Take the Children as Dependents After a Divorce?
The first answer to this question is always the same; check your divorce decree. The decree should spell out who gets to take the kids as dependents. Here are the general rules if the divorce decree is silent. The first matter to address is whether or not the child is...
The Estate Planning Needs of Women
We’re all about equality, but the fact is that women have different estate planning needs than men. Whether they’re single or married, have children or no children, women have different things to think about when it comes to estate planning. This means that women need...
It’s a Dog’s Life
There seems to be some confusion nowadays about whether “a dog’s life” refers to a life of ease or toil, but for these wealthy canine heirs life is definitely the former! Whether it’s a wealthy eccentric leaving millions to a dear canine companion or whether it’s a...
Can I Get Power Of Attorney For My Mother Who Has A Mental Illness?
What are the steps in doing so? It may be challenging getting a power of attorney for your mother who has a mental illness. I would recommend that you take your mother to an appropriate physician to determine her mental state, such as a physiological neurologist. The...
More News About the Repealed Estate Tax
Six months into 2010 and the estate tax repeal is still making news. This time it’s a story about Texas billionaire Dan L. Duncan who died in March, leaving all of his billions to his spouse, family and various charitable organizations... and none to the government:...
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