Author Archives: Site Administrator
Coronavirus Makes Estate and Tax Planning an Urgent Task
The Covid-19 pandemic has brought estate planning front and center to many people who would otherwise dismiss it as something they would get to at some point in the future, says the article “Estate and Life Insurance Considerations During the Covid-19 Pandemic” from Bloomberg Tax. Many don’t have a frame of reference to address… Read More »
Your Estate Plan Needs to Be Customized
The only thing worse than having no estate plan, is an estate plan created from a ‘fill-in-the-blank’ form, according to the recent article “Don’t settle for a generic estate plan” from The News-Enterprise. Compare having an estate plan created to buying a home. Before you start packing, you think about the kind of house… Read More »
Working and Collecting Social Security Benefits
For decades, Americans have taken comfort from knowing that no matter what else happened with their retirement savings, they would be able to get Social Security benefits when they stopped working. Even better, the benefit grows with inflation and continues for as long as the person or their spouse lives, explains the article “How… Read More »
What Must Be Done when a Loved One Dies?
When a member of a family dies, it falls to the people left behind to pick up the pieces. Someone has to find out if the person left a last will, get the bills paid, stop Social Security or other automatic payments and file final tax returns. This is a hard time, but these… Read More »
Still Procrastinating about Your Estate Plan?
The continuing escalation of the COVID-19 pandemic has forced many people to finalize estate planning documents, even as their estate planning attorneys are working from home. People are coming to terms with the stark reality: they could be struck by the disease and need to have a plan in place, reports the article “Estate… Read More »
Picasso’s Sole Heir Continues to Sell Artwork
The great artist was also known for the many women he was involved with, but he only married two of them, says a recent article that asks “Who are Picasso’s heirs? Auction at Sotheby’s reignites dispute, ” appearing in The Wealth Advisor. Officially, there is only one legitimate heir to Picasso’s vast estate, but… Read More »
How Do the Children Divide Up Mom’s Tangible Property?
What should you do if you’ve been given the task to be in charge of divvying up a parent’s estate that includes assorted tangible items? Minneapolis Tribune’s article entitled “A clever way to divvy up items after a parent’s death” says that some families do it, by taking turns selecting which items each will… Read More »
What’s the Best Way to Select a Beneficiary for My 401(k)?
WTOP’s article “How to pick a beneficiary for your 401(k) plan” instructs us on how to make certain your 401(k) savings get to your intended heir. Name a Beneficiary. Designating a beneficiary of your retirement account lets that person receive your financial bequest without the need to access to your will, financial documents, or… Read More »
Save Your Family Stress and Plan Your Funeral
Making your way through the process of the death of a family member is an extremely personal journey, as well as a very big business that can put a financial strain on the surviving family. Rate.com’s recent article entitled “Plan Your Own Funeral, Cheaply, and Leave Behind a Happier Family” notes that on an… Read More »
Don’t Neglect a Plan for Your Pet During the Pandemic
If you have a pet, chances are you have worried about what would happen to your furry companion if something were to happen to you. However, worrying and having an actual plan are two very different things, as discussed at a Council of Aging webinar. That’s the subject of the article “COA speakers urge… Read More »