Over five million Americans are living with Alzheimer’s disease and this number continues to grow. Alzheimer’s disease is the sixth leading cause of death in the United States. It is difficult to overstate the devastating impact Alzheimer’s disease and related dementias have on patients and their families. One way to mitigate this impact is to […]
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, you will likely be asked to sign a nursing home admission […]
Life is complicated, protecting your family shouldn’t be! Come to our free workshop and see how easy protecting your family can be. This presentation will review the 7 major threats to your family’s security. Learn what you need to know to avoid these threats and preserve your family’s assets and values. An hour and a half of […]
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 type of ownership is used to avoid probate of the property and also […]
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 the third blows it.” These sayings are supported by numbers. According to a recent article in the Wall Street Journal, […]
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 chatting with many of you and answering your questions. We began […]
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 people, termed the beneficiaries. A special needs trust, also called a “supplemental needs trust,” […]
Inherited IRAs Can Be Taken From the Beneficiary 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. In that case, Heidi Clark-Heffron inherited a $300,000 IRA account upon the death of her mother. […]
An affluent client comes in for estate planning and explains that one of her foremost objectives is to make sure that the wealth she has accumulated over a lifetime of hard work is left to her children. A significant amount of her net worth happens to be held in an IRA account. After a thoughtful […]