Since the federal estate tax exemption allowance appears to be in jeopardy of being lowered, it may be time to reconsider how you plan to pass generational wealth to your heirs. Senate Democrats are proposing to lower the current estate…
Today, almost everyone has digital footprint. From social networks like Facebook, Linkedin, Instagram, Twitch.tv and Twitter, blogs and licensed domain names, email, music, photos, seller accounts on eBay, Amazon, or Itsy, gaming accounts, even your financial, utility, and medical accounts…
Most of the time, getting an Inheritance is a good thing. However that is not always the case. Say your spouse is living in a nursing home because of advanced Parkinson’s. Your spouse is currently receiving Medicaid benefits to pay…
Many parents are uncomfortable talking to their kids about their wealth. Talking about how much money or property you have is usually viewed as taboo. Asking someone else about what they have is often considered impolite. However, failing to talk…
Say your spouse is living in a nursing home because of advanced Parkinson’s. Your spouse is currently receiving Medicaid benefits to pay for the high cost of that care. If you were to pass before your spouse, you wouldn’t want…
Probate is the legal process that decides how a person’s assets will be distributed and their debts paid after his or her death. If your loved one owned his or her assets through a well-drafted and properly funded living trust,…
Family members often end up arguing over mom or dad’s favorite items when that parent dies. Arguments can take place over things like a coffee mug, a piece of jewelry or a painting. These types of arguments can be eliminated…
Successfully addressing and legally formalizing inheritance of family values and assets can be challenging, especially if parents wait too long to begin instilling family values. Undoubtedly the best time to teach and empower your children as eventual inheritors of your…
By Chris DiedlingIf you are engaged and planning a wedding, this is supposed to be one of the happiest times in your life. You are soon to be married to the love of your life and your “happily ever after”…
Although it can be useful to have another party available to keep track of bills when you’re sick or away, adding a child’s name to a bank account may be more of a hassle than it’s worth. Doing so may have unintended consequences for both you and the child.