Most of us associate 529 accounts as college savings vehicles. They’re flexible, allowing you to transfer assets to anyone, including yourself, for the express purpose of furthering the education of your beneficiary. However, did you know that a 529 can also be a powerful estate planning tool?
Read MoreOctober 20, 2021 •
Estate Planning It takes a special parent to care for a child with special needs. These parents’ greatest financial concern is typically ensuring that their children are cared for when they can no longer do so.
Read MoreJuly 24, 2020 •
Estate Planning Many people begin to notice changes in their cognitive functioning as they age. Some find that they can’t quite remember why they entered a room or that the location of their keys is a constant mystery. Varying degrees of cognitive decline are common, and it is estimated that 14 million people will be diagnosed with dementia by 2050.
Read MoreJuly 23, 2020 •
Estate Planning Social Security benefits are one of the items that fall through the cracks in many estate plans.
Read MoreJuly 22, 2020 •
Estate Planning Kenny Rogers didn’t write a lot of his greatest hits. His heirs get a little cash, when any of his recordings are played or purchased online, but that’s just a trickle of income.
Read MoreJuly 21, 2020 •
Estate Planning Both the state and federal government, administered through the Social Security Administration (SSA) and Medicaid provide disabled individuals with a variety of life enhancing, and sometimes life sustaining, public benefits.
Read MoreJuly 20, 2020 •
Estate Planning Estate planning documents often are treated like the photocopied permission slip for a child’s field trip. You fill in your name, include the children’s names and dates of birth and sign. The document is filed away to be used if needed, but you really never expect it to be used.
Read MoreJuly 17, 2020 •
Estate Planning One of the biggest challenges for anyone administering an estate is how to distribute what are called its tangible items. Unlike other property which can be easily sold, turned into cash and divided equally, tangible property is unique and often can't be equally split. Its value also often can't be measured by what it could be sold for. A family photo album may have no monetary value, for instance, but great sentimental significance.
Read MoreJuly 16, 2020 •
Estate Planning When the Spanish painter Pablo Picasso died of a heart attack on April 8, 1973, he left behind not only a huge artistic oeuvre of 50,000 works, but enough family drama to cover several generations.
Read MoreJuly 15, 2020 •
Estate Planning Without an estate plan in place, clients will be reliant on state laws and probate courts to appoint individuals who will be responsible for financial affairs and health-care decisions, in the case of illness and ultimately the transfer of assets upon death.
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