Many aging Americans depend on family members or friends to help manage their financial, health, and other affairs during retirement and beyond. They often believe that their family members will be able to take care of any issues that arise. While consulting
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The passing of a beloved family member or friend can impact people in many ways. Some of the most grief-stricken are eager to mourn and move on. Others may experience anger or frustration after a loss. While there is no right way
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What if something happens to an adult child while away from home or away at college? Accidents and unforeseen medical emergencies may occur. If the student is unable to consent to medical treatment who will make the necessary decisions? Who will be
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As technology evolves, so does our money. While writing a will and keeping important contracts in a safety deposit box used to be enough to ensure your finances were protected after your death, times are changing. The rise of cryptocurrency means new
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In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers alike. If you have a home or other rental property that
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On May 23, 2019, the U.S. House of Representatives passed H.R. 1994, also known as the SECURE Act, by a vote of 417 to 3. The SECURE Act is now headed to the Senate, where a nearly identical bill (the Retirement Enhancement
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While most proactive individuals know the importance of having a well-rounded estate plan, it is typically considered as something that will take effect after they have passed away. But there are in fact many ways in which comprehensive estate planning can have
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Myth: Individual Retirement Accounts (IRAs) are exempt assets in bankruptcy. Fact: According to the Bankruptcy Code, only a certain amount of your IRA is exempt from a bankruptcy proceeding, not the entire amount. If you have a large sum of money, some
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In its simplest terms, a trust is a legal arrangement in which a trustee holds and manages assets for the benefit of one or more beneficiaries. The trustee owns the assets, enters into contracts on behalf of the trust, manages the trust’s
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Please allow us to be frank. It’s unrealistic to think that a piece of paper you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We’ll use the Kendrick family as an
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Hiring an estate planner is an important decision as you are seeking advice on how to protect your loved ones once you are gone. For this reason, it is critical to hire an attorney with good knowledge of estate planning and how
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If you have a will or an IRA, you already know the importance of estate planning. Unfortunately, even the most carefully prepared estate plans can be turned upside down when creditors come knocking at your door. While your retirement accounts may feature
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While saying the words “I love you” is indeed romantic, you should know that putting together a well-crafted estate plan is a concrete way to care for your family in the long run. This is because doing so will help prevent your
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So you have done the hard work of establishing an estate plan. Good for you! However, you still have serious work to do to ensure that the strategy you have selected will maximize your peace of mind and protect your legacy. Estate
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Five words no one ever wants to hear from their doctor: “Get your affairs in order.” Unfortunately, 58 percent of Americans do not have a will or trust, and it often requires a chronic disease or terminal illness diagnosis, or other life-changing
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How to Manage Your Basis “Step Up” If you or someone you know has received an inheritance, it is important for you to understand how to manage your basis “step up.” A “step up” in basis is the adjustment of the value
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1) Myth: My spouse can make all of my healthcare and financial decisions because he/she is my spouse. Reality: This is not always the case. To make sure your spouse can indeed make important medical decisions on your behalf, you should sign
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58 million Americans are at least five years of age or older and have some type of disability or special need. These Americans are the largest single minority in the country. Most public benefits (like Medicaid, Social Security Income (“SSI”), or food
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According to the United States Census Bureau, more than 51 million Americans are currently aged 65 or older, a number that is steadily increasing. At the same time, medical and technological advancements are allowing seniors to live longer and better lives than
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Suddenly coming into money can be both a blessing and a curse. Whether you just signed a multiyear, multimillion dollar employment contract, received a significant inheritance, expect a large check from a lawsuit verdict or divorce settlement, or just won the lottery,
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It’s that time of year again: tax season. No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last…possible…moment. As Tax Day approaches, millions of Americans are likely scrambling to track down
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There comes a point in most of our lives when we realize giving is more fun than receiving. While our childhood holidays and birthdays are spent eagerly anticipating gifts, our adult celebrations are often more focused on treating others. Think of the
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After a Living Trust is established as part of someone’s estate plan, the person setting up the Trust (the “Trustor”) usually serves as initial “Trustee”. A Trustee is in charge of the administration of the Trust and the handling of the Trust
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The holiday season is a time to enjoy friends, family, and loved ones. Often we consider our life circumstances and get into the spirit of giving. This is true if you are at a point in your life were you have enough
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Traditions and rituals are not restricted to what is printed on the calendar or in the religious text: over the years, your family doubtlessly has developed activities, celebrations, and foods that you repeat habitually for specific purposes. What is a Family Ritual
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