Death, it’s part of life. The comings and the goings never end. Sometimes it is an expected passing but too /many times, especially in the last couple of years, it can happen unexpectedly. Those are the toughest of times – when a spouse passes suddenly and unexpectedly. Despite the circumstances of your spouse’s passing, the Read More
Benefits Of Naming A Corporate Fiduciary
Benefits Of Naming A Corporate Fiduciary Many individuals who establish trusts choose to name a close friend or relative as trustee. However, there are many situations where naming a corporate fiduciary is a far better alternative. Acting as a trustee requires that the person have a good background in finance and tax. Failing that, the Read More
Five Dangers of DIY Estate Planning
Senior Life: Five Dangers of DIY Estate Planning In a society empowered to do-it-yourself (“DIY”), we turn to social media and an overwhelming number of websites and blogs to get step-by-step instructions on how to save money by doing it ourselves. In this environment of DIY, sometimes it can become unclear as to when a Read More
The Hidden Dangers of Joint Accounts
The Hidden Dangers of Joint Accounts Many people believe that joint ownership of bank accounts and real estate are an effective way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to Read More
What Is a Special Needs Trust?
What is a Special Needs Trust? A “special needs trust” is a specific type of trust that is established for a person with special needs to supplement the benefits the person with special needs may receive from government programs such a SSI and Medicaid. A properly drafted special needs trust will allow the beneficiary to Read More
Help for People with Disabilities
Help for People with Disabilities Federal legislation adopted in 2015 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for government benefits. Generally a disabled person cannot have assets worth more than $2,000 without forfeiting eligibility for Read More
Tax Benefit of Nebraska Transfer on Death Deed
Tax Benefit of Nebraska Transfer on Death Deed The main asset of many retired couples is their home. It is common practice for the property to be jointly owned, so that in the event of the death of one of the couple, the home transfers smoothly to their spouse. We often recommend use of a Read More
Your Last Will and Testament
Your Last Will and Testament A Last Will and Testament is the legal document where you set out how your assets will be distributed and how your dependents will be cared for after you die. A Last Will and Testament is frequently the centerpiece of an Estate Plan. A person who dies with a will Read More
60% of Americans Don’t Have an Estate Plan
60% of Americans Don’t Have an Estate Plan Seriously. I recently came across this surprising information on estate planning. • Over 60% of Americans don’t have an estate plan….no will or trust….nothing!! • The cost of not having an estate plan is high – in both time and money. • When there has been a Read More
Uniform Fiduciary Access to Digital Assets Act
The Digital Afterlife Is a Mess In today’s world, many of us have chosen to go paperless, so all of our financial statements are delivered electronically; we even file digital tax returns. Our love letters may no longer be written in ink on paper, our reading and listening and viewing interests no longer documented by Read More