You, and every person over the age of 18, need two powers of attorney. A power of attorney names a trusted helper to act on your behalf when you are unable to do so yourself. The Financial Power of Attorney The financial power of attorney authorizes your trusted helper to sign your name and conduct business on your behalf should you become incapacitated. Your trusted helper is called an “agent” or “attorney in fact,” depending on state law. It is wise to name a succession of agents in … [Read more...] about You Need Two Powers of Attorney
Estate Planning
Economic Fallout from Coronavirus May Provide Opportunities
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. While healthcare systems have fought the virus, economies have been hurt by the social distancing required to combat the virus. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read this article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Read on to learn more … [Read more...] about Economic Fallout from Coronavirus May Provide Opportunities
Coronavirus and Nursing Homes
The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Social distancing and self-quarantine can help slow the spread. The virus is a particular threat to residents of nursing homes. Read this article by my friend and colleague Steve Hartnett, an estate planning expert, on to learn more about the threat and how you can keep your loved ones safe. Read on to learn more … [Read more...] about Coronavirus and Nursing Homes
Shrunken Asset Values Open Estate Planning Opportunities
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. Not only has COVID-19 been challenging healthcare systems, but the social distancing required to combat the virus has also rocked financial markets. However, there may be an opportunity for those wishing to do certain types of Estate Planning. In this timely post by my friend and colleague Steve Hartnett, an estate planning specialist, he addresses some current planning options. Read on to learn more. … [Read more...] about Shrunken Asset Values Open Estate Planning Opportunities
Estate Planning and Charitable Giving — Key Points
If you have been fortunate enough to be in a position during your lifetime to donate to charitable causes, then you may wish to continue doing so long after your death. Just as you make plans to provide for your family members and loved ones after your death, you can include charitable giving in your estate plan as well. A thorough consultation with an experienced and qualified estate planning attorney is, of course, necessary in order to incorporate your charity into your estate plan; however, … [Read more...] about Estate Planning and Charitable Giving — Key Points
Over-Funding Your Retirement Plan: A Potential Estate Planning Problem
If you are like most Americans, you started saving for your retirement about the same time you started your career. The idea of saving for our golden years is firmly ingrained in the American psyche. While putting away money for retirement is certainly wise, putting away too much can result in over-funding of a retirement account. Unless one plans ahead, the excess funds in a retirement account could be taxed as both income and for estate tax purposes at the time of death. The end result of this … [Read more...] about Over-Funding Your Retirement Plan: A Potential Estate Planning Problem
Best Places to Retire: State Taxation
You owe federal income tax wherever you live. But your overall tax burden can vary dramatically depending on where you live. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Best Places to Retire: State Taxation … [Read more...] about Best Places to Retire: State Taxation
Whom Do You Want to Get Your Assets?
Most of us have an idea whom we’d choose to receive our assets at our death. But often we don’t contemplate what should happen if the people whom we’ve selected die before us. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about contingent beneficiaries. Whom Do You Want to Get Your Assets? … [Read more...] about Whom Do You Want to Get Your Assets?
Joint Tenancy Pros and Cons
Joint tenancy is a commonly used form of ownership between two or more people. It can be an easy solution. However, it can have drawbacks. Read the linked article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Joint Tenancy Pros and Cons … [Read more...] about Joint Tenancy Pros and Cons
Important Notice Regarding COVID-19
To our valued clients and friends, We sincerely hope everyone is taking care and following all of the recommended precautions during these unprecedented times. WE WANT YOU TO KNOW THAT DURING THIS TRYING PERIOD, WE ARE HERE FOR YOU. In light of recent governmental directives for most persons to "shelter in place", effective immediately, for the most part, our firm will operate remotely. Fortunately, we are experienced with remote workplace operations and have the appropriate technology to … [Read more...] about Important Notice Regarding COVID-19
