Take some time RIGHT NOW to think about who will be making decisions for you at the end of your life, and how you can best have your wishes carried out.
Blog Posts Page 7
A recent case demonstrates the pitfalls of poorly done asset protection planning. Sadly, this is typical of most mass-marketed means of “bulletproofing” your assets.
As long as you follow the rules, it’s OK to plan to qualify for a benefit funded by your tax dollars.
The troubling scene at Glenwood Gardens nursing home did not have to happen.
Here is a fun and harmless way to mess with your adult children’s minds.
Pope Benedict, 85, is reportedly the first pope to retire in almost 600 years, which made his decision all the more momentous. He cited health issues for his decision, but for the growing number of retirement-aged professionals who are still hale and hearty, the decision gets more complicated.
Except in an absolute emergency, you would not perform surgery on yourself, right? Estate planning is not as complicated or life-threatening, but missing a little detail in your estate plan can have huge consequences. Some thoughts about do-it-yourself estate planning.
You might be able to claim your parent as a dependent, take a dependency care tax credit, write off your mom or dad’s medical expenses, or get some combination of these tax breaks.
State estate and inheritance taxes have been in constant flux over the last decade. And it’s not just the list of states that has been changing, but in some states, the level at which the tax kicks in has been changing (both up and down). So it’s important to stay on top of this to avoid a surprise tax bill.
Here is a quick rundown on what trusts are and some of the things they can accomplish as components of an estate plan.