Children almost always interpret unequal inheritances as an expression of unequal love, and giving one child more than another may cause resentment.
Blog Posts Page 4
Family businesses account for much of this country’s domestic product and are essential to the American Dream. Whether it is a century-old international automobile manufacturer or a group of local dry-cleaners, family involvement in the business is a common goal. Like anything worth keeping, it takes work to preserve.
Now that only 0.2% of us have to worry about the estate tax (for the time being, anyway), it is appropriate to focus on the capital gains tax as the primary threat to our ability to pass assets to our loved ones.
They are in their 50’s and 60’s, they are probably inheriting from financially conservative parents, and they are dealing with deep emotional reactions.
For years, it has been an article of faith that Medicare would not pay for services such as skilled nursing or physical therapy unless that care improved a patient’s health status.
How did this misunderstanding go on for so long?
Michael Pirron called John Hancock to ask about the care options covered by his parents’ long term care insurance policies. Their answer was, essentially, “What policies?” The policies had lapsed eight months earlier, and it was too late to send in the past due amount and get them reinstated.
Elite families passing their wealth from generation to generation does not just happen. Evidence suggests that it is the exception rather than the rule.
A life estate is a deed that entitles you to remain in your home for the rest of your life and allows your designated heirs to inherit it without the hassle of probate-court proceedings when you die.
Could you be legally liable for paying for your parents’ care?
Watch out. Big Brother may be coming for the family homestead.