A prepaid funeral is when a person and/or that person’s family pay for funeral services and related costs while the person is alive. For many individuals, dealing with the financial aspects of the funeral and burial process is simply one more ele…
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One of the benefits of proper estate planning is to ensure that you, and your assets, will be taken care of even if you are no longer able to do so yourself. You may become disabled, for instance, and be unable to make important health care decisio…
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The plan includes a trust and a pour-over will to ensure that any assets not transferred to the client’s trust during her lifetime will end up in her trust after her death. Her trust includes numerous provisions to ensure the assets left in trust…
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Last month, in its unanimous decision in Clark v. Rameker, the United States Supreme Court decided that an inherited IRA does not have the same bankruptcy protection as a non-inherited IRA.
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Planning for a Loved One with Special Needs
In general, a trust is a legal device whereby property of some sort (real estate, cash, tangible personal property, etc.) is managed by a person, termed the Trustee, for the benefit of certain other peop…
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Successor Trustee Meeting May 2014
On May 31, 2014 we held our annual Successor Trustee Meeting. More than 80 of our clients and their family members attended! We were delighted to see such a crowd, and even more delighted to spend some time c…
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Preserving Wealth Over Generations
Several common sayings refer to the phenomenon of losing inherited wealth. One is “shirtsleeves to shirtsleeves in three generations.” Another is “the first generation makes it, the second spends it, and t…
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The Consequences of Life Estates
A life estate is a form of ownership in which property owners transfer ownership in their property, most commonly their home, while retaining the right to use and occupy it for the remainder of their lives. This typ…
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Signing Nursing Home Admission Agreements As A Responsible Party
When a person is admitted to a nursing home, it is often a family member who manages the details of the move. If you are managing a loved one’s transition into a nursing home, y…
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In order to prepare your estate plan, you need to know that your assets can be put into two categories: probate and non-probate assets. Once you understand the difference between these two types of assets, you will be able to make informed decision…
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