Author Archives: Site Administrator
Are You Making the Most of the SECURE and CARES Acts?
The SECURE Act made a number of changes to IRAs, effective January 1, 2020. It was followed by the CARES Act, effective March 27, 2020, which brought even more changes. A recent article from the Milwaukee Business Journal, titled “IRA planning tips for changes associated with the SECURE and CARES acts, ” explains what… Read More »
Don’t Shrink Your Estate with Last Minute Tax Planning
In the best-case scenario, you’d start talking with your estate planning attorney early on about your overall goals and the various tools available to minimize tax liability and transfer wealth to the next generation. Whether your estate is modest or significant, the article “A Recipe for Risk—Last-Minute Tax Planning for Estates” from The Legal… Read More »
What Exactly Does an Executor Do?
The job of the executor is an important one. The executor has a fiduciary responsibility to manage the assets and debts of the decedent and carry out instructions documented in his last will and testament. The executor is also responsible for distributing assets, explains the article “A Step-by-Step Guide to Being an Executor” from… Read More »
Can Exercise Help with Dementia?
A new study shows that even when your memory starts to fade, you can still do something about it by adding aerobic exercise to your lifestyle, reports News Atlas’ recent article entitled “Aerobic exercise shown to improve memory in those at risk of dementia.” The study concentrated on the long-term changes to cerebral blood… Read More »
Your Children Wish You Had an Estate Plan
It is the adult children who are in charge of aging parents when they need long-term care. They are also the ones who settle estates when parents die. Even if they can’t always come out and tell you, the recent article, “Why your children wish you had an Elder Law Estate Plan” from the… Read More »
How Do I Talk about End-Of-Life Decisions?
With the coronavirus pandemic motivating people to think about what they prioritize in their lives, experts say you should also take the time to determine your own end-of-life plans. Queens News Service’s recent article entitled “How to have the hardest conversation: Making end-of-life decisions” reports that in this coronavirus pandemic, some people are getting… Read More »
Do You Have End-of-Life Instructions Ready, Especially in a Pandemic?
Florida Today’s recent article entitled “As COVID-19 spreads, are your end-of-life directives in order?” says that discussing mortality is critical. The Conversation Project surveyed Americans about the need for end-of-life directives. About 92% of respondents said it was important to discuss their wishes for end-of-life care, and 95% of them are willing to talk… Read More »
When You’ve Planned for Retirement but Didn’t Plan Your Estate: What You Need
If you’re in a situation where you must quickly create or update your estate plan, here are some suggestions that might help you. Every situation is different, Forbes’ article “Seven Tips For Converting Your Retirement Plan To Your Estate Plan, ” says, but these some tips that may start the process. Speak with an… Read More »
Tapping an Inherited IRA?
Many people are looking at their inherited IRAs this year, when COVID-19 has decimated the economy. The rules about when and how you can tap the money you inherited changed with the passage of the SECURE Act at the end of December 2019. It then they changed again with the passage of the CARES… Read More »
Can You Place a Life Insurance Policy in a Trust?
Trusts are frequently used in the estate planning process. They help with in the distribution of assets, making certain that everything is distributed to the right people and entities. A trust can also reduce estate taxes, because it lets you remove assets from your estate, so more wealth can be passed to beneficiaries. Many… Read More »