Blog
Another Kind of “Bucket List”
Among the many changes in tax law to go into effect in 2010 was the change in cost basis for inherited assets. Previously, all inherited assets were “stepped-up” from their original value at date of purchase to their fair market value at date of death. In this way, if...
Will You Take Advantage of New Roth Rollover Rules?
January of 2010 has brought with it a lot of change that is keeping financial and estate planners on their toes. In addition to the repeal of the estate tax (discussed in a previous post), we have been presented with new Roth IRA rollover rules that took effect...
Part of the Family: Planning for Pets
Creating an estate plan often involves serious discussion with your advisors about tax planning, asset protection, and charitable giving; but it is important to remember that at its core, estate planning is about protecting your family—and as this article in the Wall...
Keep Your Estate Safe in 2010
Now that it’s 2010 and congress has failed to take action regarding the repeal of the estate tax, we see a lot of articles discussing whether the lack of taxation for a year is a good or bad thing; sometimes these articles go even further, arguing whether estate tax...
Who Cares About Medicare?
One of the main concerns of anybody who is retired or nearing retirement is how to pay for medical expenses. Research shows that a healthy 65 year old couple can expect to pay somewhere around $305,000 in out of pocket medical expenses during the course of their...
Making Your New Year’s Resolutions Stick
It’s the beginning of a New Year, a time of new beginnings when many people set goals for themselves and make their New Year’s resolutions; but according to Wikipedia, in spite of all this optimism and confidence, only 12% of people who make resolutions will actually...
No Estate Tax in 2010!… But Don’t Break Out the Champagne Just Yet
The question on everybody's minds the past few months has been "what legislative action will be taken regarding the expiration of the estate tax in 2010?" Well, Congress has adjourned for the year and the answer to the question is... Nothing. With Congress home for...
Celebrity Gossip Can Save Your Estate!
Did you know that Jimi Hendrix’s estate took twenty years to finalize because he didn’t have a will? Have you heard about Heath Ledger’s two year old daughter who got nothing when he died because Ledger neglected to update his will after she was born? Can you imagine...
How to Pick the Perfect Health Care Agent
Cicero said “In nothing do men more nearly approach the gods than in giving health to men,” a quote which underlines the important role of anyone involved in your health care, whether it be a doctor or an agent. A health care agent is the person who makes medical...
Awareness Can Help Prevent Senior Abuse
In all humor there is a shred of truth, and Mark Twain was a master at using humor to cut straight to the truth of just about any situation. The following quote by Twain seems especially astute: “When I was younger, I could remember anything, whether it had happened...
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