Basic asset protection tips.
Tips on how to avoid mistakes with your 401(k) distributions.
Do not forget to address in your estate plan arcane issues such as pet care and children born from frozen embryos.
Article about the importance of completing your beneficiary designation forms when doing estate planning.
Tips on avoiding will contests and disgruntled heirs.
Tips for estate planning after 2010 estate tax legislation.
Retirement advice for single people.
Ohio repealed its estate tax effective January 1, 2013.
Be sure that your family knows where your important documents, including estate planning and financial documents, are located.
Apparently nursing home costs can be negotiated.
As banks exit the reverse mortgage business, children may enter into reverse mortgages with their parents who are home equity rich, but income poor.
If you turn 70 1/2 this year, be sure to take your required minimum distributionfrom your IRA. The failure to do so will result in a 50% penalty.
Megan McArdle makes an argument for a 100% estate tax rate. The first time I heard this argument was from my estate planning professor in 1986. I thought it was ludicrous then and I find it even more troublesome now.
If couples do not have proper financial planning, the woman is most often hurt the most and her lifestyle will be reduced permanently.
The Cincinnati Enquirer has a nice article about the Ohio Estate Tax. The tax applies only to taxpayers with assets valued at more than $338K. Proponents of the tax claim repeal would only benefit the “wealthy.” How they consider a $338K net worth as wealthy is laughable. A house and a retirement plan should put most taxpayers over the threshold.
The IRS released its list of Dirty Dozen Tax Scams.
Some wealthy individuals are hesitant to use the new $5 million gift tax exemption because they fear damaging the initiative and ambition of their children.
Megan McCardle thinks not. Money quote: “So I think that ultimately retirees are going to end up consuming less than they currently expect to. And given the political economy of it all, I expect the burden to fall more heavily on those who have saved than on those who haven’t.”
Boomers have acquired too many possessions they no longer want and are selling them for pennies on the dollar.
I am an attorney located in Cincinnati, Ohio who practices in the areas of estate planning, probate, asset protection, and small business advice. I make a difficult and bewildering process as simple as possible. Most importantly, I provide "more for less" for my clients.